Akin Advises Intrum on its Investment Partnership with Cerberus

(London and New York) – Akin’s global capital solutions team advised Intrum AB, Europe’s largest provider of credit management services, in its entry into an investment partnership with Cerberus Capital Management, L.P.

Intrum and Cerberus have agreed to invest up to €1 billion annually in consumer unsecured non-performing loan portfolios across Europe. The agreement includes a 3-year exclusivity period and long-term agreements for Intrum to exclusively service nearly all of the portfolios acquired within the partnership. In addition to servicing fees, Intrum will also earn additional fees consisting of execution fees, portfolio management fees and performance-based fees.

This transaction represents an innovative partnership between private capital and a public company. The agreement allows Intrum to scale its investment activity without increasing its debt, providing servicing revenues and additional investment management revenue, furthering the company’s move into a ‘capital-light’ strategy.

The Akin team assisted Intrum on all aspects of the transaction, including the overall framework of the partnership and the terms of co-investment, servicing and portfolio management. This is the second transformational transaction that Akin have advised Intrum on in the past year, having previously advised Intrum its €1 billion asset sale to Cerberus in July 2024.

“Akin’s breadth of expertise, creativity and results focused approach were critical in helping us navigate this complicated transaction,” said Andrés Rubio president and chief executive officer, Intrum. “They brought together a wide variety of experts in their capital solutions team to assist in all aspects of the transaction.” 

“We appreciate the trust that Intrum placed in us on this transaction and the true partnership we had with all members of their team, said Ranesh Ramanathan, co-leader of Akin’s global capital solutions team.

The cross-practice team advising Intrum was co-led by capital solutions team co-leader Ranesh Ramanathan and capital solutions counsel George Burt and included:

Capital Solutions

Partners Chris Parrot and Amy Kennedy, counsel Christopher Beardmore and associates Callum James and Spencer Hazan

Antitrust and International Competition

Partner Davina Garrod, counsel Todor Papanov and associate Marcello Prota

International Trade

Partner Jasper Helder and counsel Stefan Tsakanakis

Tax

Counsel Mohammed Natha and associate Gunel Latifova

Data Protection, Privacy and Cybersecurity

Senior Counsel Jenny Arlington

For further information on the transaction, please click here.

Our global capital solutions group advises private capital investors pursuing opportunities, and companies seeking investments, across the capital structure in all market cycles. We provide a one-stop shop for credit funds, private equity firms and other global investors, as well as companies, seeking bespoke capital and liquidity solutions. 

Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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