About EY PortfolioFILE/... · Retail team Andrew Wollaston Partner T ... Financial modelling...
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About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. Ernst & Young LLP The UK firm Ernst & Young LLP is a limited liability partnership registered in England and Wales with registered number OC300001 and is a member firm of Ernst & Young Global Limited. Ernst & Young LLP, 1 More London Place, London, SE1 2AF. © 2013 Ernst & Young LLP. Published in the UK. All Rights Reserved. ED None 1371717.indd (UK) 10/13. Artwork by Creative Services Group Design. In line with EY’s commitment to minimise its impact on the environment, this document has been printed on paper with a high recycled content. Information in this publication is intended to provide only a general outline of the subjects covered. It should neither be regarded as comprehensive nor sufficient for making decisions, nor should it be used in place of professional advice. Ernst & Young LLP accepts no responsibility for any loss arising from any action taken or not taken by anyone using this material. ey.com/uk EY | Assurance | Tax | Transactions | Advisory Contacts United Kingdom Real estate team Mathieu Roland-Billecart Partner T: + 44 20 7951 5206 M: + 44 7799 342 682 E: [email protected] Ian Cosgrove Partner T: + 44 20 7951 1094 M: + 44 7715 704 748 E: [email protected] Tom Groom Director T: + 44 20 7951 4813 M: + 44 7500 066 849 E: [email protected] Retail team Andrew Wollaston Partner T: + 44 20 7951 9944 M: + 44 7770 667 332 E: [email protected] Bridget Walsh Partner T: + 44 20 7951 4176 M: + 44 7748 106165 E: [email protected] Corporate team Daniel Mair Partner T: + 49 6196 996 24703 M: + 49 160 9392 4703 E: [email protected] Nora Charlotte van Obstfelder Senior Manager T: + 49 6196 996 27678 M: + 49 160 939 27678 E: [email protected] Germany Erberto Viazzo Partner T: + 39 0280 669 752 M: + 39 348 191 1479 E: [email protected] David Frias Partner T: + 34 0915 725 086 M: + 34 0660 815 863 E: [email protected] Italy Spain France Benoit Maillard Senior Manager T: + 33 1 5561 0154 M: + 33 6 4679 4085 E: [email protected] Loan Portfolio Solutions Loan Portfolio Solutions As a consequence of the financial crisis, ‘deleveraging’ is at the centre of many financial institutions’ agendas. Transactions emerging from this deleveraging process are often complex and significant in value and require both breadth and depth of financial expertise to deliver value for both vendors and purchasers. The EY Loan Portfolio Solutions team provides solutions, not services, to clients in these transactions. Our team comprises individuals with expertise across multiple asset classes grouped into three categories: real estate, retail and corporate; as well as in-depth understanding of complex financial instruments and deal structures. We have advised a broad spectrum of clients: banking institutions seeking advice on sales programmes and support in executing sales, financial investors acquiring single loans or portfolios and central banks seeking to address some of their strategic challenges. Consequently, we have accumulated a breadth of experience that we can leverage to develop bespoke Loan Portfolio Solutions, regardless of the size and complexity of the situation.
Transcript of About EY PortfolioFILE/... · Retail team Andrew Wollaston Partner T ... Financial modelling...
About EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
Ernst & Young LLPThe UK firm Ernst & Young LLP is a limited liability partnership registered in England and Wales with registered number OC300001 and is a member firm of Ernst & Young Global Limited.
Ernst & Young LLP, 1 More London Place, London, SE1 2AF.
© 2013 Ernst & Young LLP. Published in the UK. All Rights Reserved.
ED None
1371717.indd (UK) 10/13. Artwork by Creative Services Group Design.
In line with EY’s commitment to minimise its impact on the environment, this document has been printed on paper with a high recycled content.
Information in this publication is intended to provide only a general outline of the subjects covered. It should neither be regarded as comprehensive nor sufficient for making decisions, nor should it be used in place of professional advice. Ernst & Young LLP accepts no responsibility for any loss arising from any action taken or not taken by anyone using this material.
ey.com/uk
EY | Assurance | Tax | Transactions | AdvisoryContactsUnited Kingdom
Real estate team
Mathieu Roland-BillecartPartnerT: + 44 20 7951 5206M: + 44 7799 342 682E: [email protected]
Ian CosgrovePartnerT: + 44 20 7951 1094M: + 44 7715 704 748E: [email protected]
Tom GroomDirectorT: + 44 20 7951 4813M: + 44 7500 066 849E: [email protected]
Retail team
Andrew WollastonPartnerT: + 44 20 7951 9944M: + 44 7770 667 332E: [email protected]
Bridget WalshPartnerT: + 44 20 7951 4176M: + 44 7748 106165E: [email protected]
Corporate team
Daniel MairPartnerT: + 49 6196 996 24703 M: + 49 160 9392 4703E: [email protected]
Nora Charlotte van ObstfelderSenior ManagerT: + 49 6196 996 27678M: + 49 160 939 27678E: [email protected]
Germany
Erberto ViazzoPartnerT: + 39 0280 669 752M: + 39 348 191 1479E: [email protected]
David FriasPartnerT: + 34 0915 725 086M: + 34 0660 815 863E: [email protected]
Italy Spain
FranceBenoit MaillardSenior ManagerT: + 33 1 5561 0154M: + 33 6 4679 4085E: [email protected]
Loan Portfolio Solutions
Loan Portfolio SolutionsAs a consequence of the financial crisis, ‘deleveraging’ is at the centre of many financial institutions’ agendas. Transactions emerging from this deleveraging process are often complex and significant in value and require both breadth and depth of financial expertise to deliver value for both vendors and purchasers.
The EY Loan Portfolio Solutions team provides solutions, not services, to clients in these transactions.
Our team comprises individuals with expertise across multiple asset classes grouped into three categories: real estate, retail and corporate; as well as in-depth understanding of complex financial instruments and deal structures.
We have advised a broad spectrum of clients: banking institutions seeking advice on sales programmes and support in executing sales, financial investors acquiring single loans or portfolios and central banks seeking to address some of their strategic challenges.
Consequently, we have accumulated a breadth of experience that we can leverage to develop bespoke Loan Portfolio Solutions, regardless of the size and complexity of the situation.
Sell-side Advisory services
Advisory services
Transaction Preparation
RealisationExecution
Sale process
Acquisitionprocess
Portfolio analysis and segmentation
Definition of strategy
Data preparation and verification
Transaction structuring
Sales process and data
management
Due diligenceand support
Process management
Acquisition support
Financial modelling
InsolvencyWorkoutadvice
Options analysis
Buy-side
Transaction structuring ► Tax, regulatory and financial structuring
► Loss mitigation and upside sharing
► Completion mechanics
Due diligence and support ► Dataroom set-up and management of the due
diligence process
► Provision of vendor due diligence to support complex processes where time and cost efficiencies can be gained
► Assisting with operational readiness for exit
Data preparation and verification ► Identifying gaps and inconsistencies and reconciling
data from different sources and in different formats
► Appending information to enrich data set, ensuring data is presented in a consistent format and any data quality limitations are mitigated
Definition of strategy ► Identifying portfolios and individual loans that do not
support business objectives
► Quantifying and forecasting the impact of loan disposals versus alternative strategies
► Understanding regulatory capital, accounting and tax implications of disposal strategies
Portfolio analysis and segmentation ► Identifying and grouping loans with similar risk,
characteristics and connections
► Analysing connections and individual loans to identify the evolution of their performance and probability of defaults over time
► Preparing statistics, portfolio segmentation and summaries upon which to base decision to sell
Sales process and data management ► Leveraging our experience to ensure the right
buyers are approached
► Preparing marketing material and project managing the sales process to completion
► Advising on offers received and commercial input into transaction documents
Financial modelling ► Design and implementation of sophisticated
deal model
► Consolidation of portfolio and loan level cash flows
► Sensitivity analysis
Process management ► Manage and co-ordinate advisors
► Preparation and production of investment, financing and underwriting documentation to support investment case
► Preparation of bid documentation
Acquisition support ► Portfolio underwriting and credit analysis
► Bid support and acquisition due diligence
► Work out and realisation strategies
Options analysis ► Business review and feasibility studies
► Strategic review of credit, typically including a review of secured assets, cash flow, banking facilities and financial position
► Analysis of cost and time of available options
Insolvency ► Formal administrator or LPA receiver appointment
► Ability to investigate fraud and misconduct
Workout advice ► Development and implementation of restructuring
plans to maximise returns
► Advice on the most appropriate enforcement methods
► Identifying external investors for recapitalisation and JV arrangements
Transaction Preparation
RealisationExecution
Sale process
Acquisitionprocess
Portfolio analysis and segmentation
Definition of strategy
Data preparation and verification
Transaction structuring
Sales process and data
management
Due diligenceand support
Process management
Acquisition support
Financial modelling
InsolvencyWorkoutadvice
Options analysis
CredentialsNature of project
Project Galway Advised a real estate non performing loan specialist on the acquisition of a £220mn loan including the negotiation of a staple financing package.
Project Peregrine
Advised on sale of a £650mn UK performing mortgage portfolio comprising residential, buy to let, and self-certified loans.
Project Royal Advised a large private equity house with their analysis and underwriting process for a UK real estate loan book covering c.35 connections and over 250 properties.
Project Byron Advised a lender in analysing the information provided by the acquirer in relation to a UK real estate loan book. The portfolio covered c.30 connections and over 200 properties.
Project Palm Advised on the secondary sale of a £680mn portfolio of UK non-performing consumer loans.
Project Stapleton
Advised a major European bank with significant exposure to the UK commercial real estate market on de-leveraging options and a re-categorisation of their portfolio into core and non-core assets.
Project Forth Advised on the sale of a social housing loan book of c.£500mn of drawn loans, out of a bridge book structure.
Project Button Advised a club of banks on the sale of their real estate loan to a private equity fund.
