Mediobanca, through its subsidiary Cairn Capital Group, a London company specializing in alternative credit management, has completed the acquisition of Bybrook Capital LLP, having received approval from the competent regulatory authorities. Bybrook is focused on the distressed assets market in Europe, where it has a solid track record and manages approximately $ 2.4 billion on behalf of international institutional investors. Bybrook will be consolidated in the accounts of the Mediobanca Group starting from 1 September 2021.
For Mediobanca this is the fifth acquisition in the Wealth Management segment completed starting from 2015, after those of Cairn Capital (2015), of a selected perimeter of activities of Barclays Italia (2016), of 50% of Banca Esperia (2016), then merged into Mediobanca with the launch of Mediobanca Private Banking and RAM AI (2017), a systematic fund manager based in Geneva with a strong ESG approach.
Over 5 years, the revenues and commissions of the Wealth Management division have grown to € 627 million and € 336 million respectively and represent 25% of Group revenues and 45% of the Group’s commissions.