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What We Do
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Principal Finance

FISG S.r.l., a structured finance company belonging to the Finint Group, has extensive experience and is a leader in the Italian securitisation market. Since 2002, it has developed a further direct investment business segment ("principal finance") and investment advisory services for illiquid asset portfolios and distressed assets.

The investments relate primarily to the mezzanine and subordinated tranches of Italian and foreign securitisation transactions and portfolios of non-performing loans (NPLs). Investment in these types of assets requires: a thorough understanding of the underlying asset class (consumer loans, lease receivables, mortgage loans, NPLs, etc.), the ability to adequately assess expected performance and a specific know-how of the characteristics of structured finance transactions.

Over the past 10 years, proprietary investments have been made amounting to over 70 million euros.
In December 2011, the company was appointed investment advisor to the closed-end fund, Finint Principal Finance 1, managed by the asset management company, Finanziaria Internazionale Investments SGR.

The principal finance team consists of 5 professionals with extensive experience in the analysis and valuation of financial asset portfolios and the implementation of structured finance transactions.

In addition to direct investment and investment advisory activities, the principal finance team provides additional services, such as:

  • due diligence, development of business plans and the determination of the fair value of portfolios of performing and non-performing loans;
  • pricing of portfolios of loans and "complex" fixed income products (structured bonds, asset-backed securities, etc.);
  • cash flow modelling for stress tests, sensitivity and risk analysis of portfolios of asset-backed securities and loans;
  • strategic advice in the construction of asset-backed securities portfolios.