Whitestar Awarded Management of €200MM Portfolio

Whitestar Asset Solutions won a contract to manage a more than €200-million portfolio of debt comprising more than 3,700 loans from approximately 1,300 debtors.

The assets include the Guincho portfolio, the second public securitisation of NPLs (non-performing loans) in Portugal, whose management had been divided between three servicers: Whitestar – Individual Secured, Hipoges – Corporate Secured and Altamira – Unsecured.

According to João Bugalho, Managing Director – Asset Management Southern Europe at Arrow Global and CEO of Whitestar Asset Solutions S.A. “This portfolio was being managed by a competing servicer, and it is, above all, is another important sign of the market’s confidence in the quality of our services.”

The executive added that “this news is even more relevant considering that the portfolio is part of a rated public securitisation.”

The contract took effect on May 1.