Waterwheel Capital Management’s Investment in the Solar Portfolio

Waterwheel Capital Management was advised by Koutalidis Law Firm on this deal to purchase 95% of the class B and Class C notes issued in the Securitisation of the Solar portfolio. Waterwheel entered into binding agreement for the acquisition with the 4 originating banks, Alpha Bank, Eurobank, the National Bank of Greece and Piraeus bank.

Waterwheel Capital Management, a US based alternative investment firm founded in 2017, invests with the goal to generate absolute returns on dislocated opportunities through targeted investment vehicles.  They are focused on strategies, capitalising on opportunities in Greece whilst using a value investing approach.

The Solar Portfolio has an on-balance sheet value of roughly EUR 1.2 billion and consists of common non-performing exposures of corporate and SME loans. This securitisation is the first of its kind in Greece involving four originating banks.

Koutalidis has been advising Waterwheel through all steps of the bidding process and negotiation of the contractual documentation with the four banks.