September 27, 2019 / 8:59 AM / 4 months ago

Prelios CEO says owner DK not looking for exit strategy right now

VENICE, Italy, Sept 27 (Reuters) - Davidson Kempner, the U.S. hedge fund that owns Italian bad loan manager Prelios, is not looking for an exit strategy at present, Prelios CEO Riccardo Serrini said on Friday.

Speaking on the sidelines of Banca Ifis’ annual bad loan conference in Venice, Serrini dismissed a press report which said DK had started considering a possible listing or a merger deal as a way out after taking over Prelios in 2017.

“There’s no mandate, there is nothing, we’re totally focused on giving our clients the good performances we’ve delivered so far and on Prelios’ sustainable growth,” Serrini said.

“It’s true that private equity funds want to extract value from their investments, but there is nothing going on.” (Reporting by Valentina Za, editing by Francesca Landini)

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