Pollen Street is pleased to announce a €75m investment financing the acquisition of a Public Sector Entities (“PSE”) receivables portfolio currently serviced by Officine CST. Pollen Street is partnering with Collextion Services (“CLX”) on the transaction. 

CLX is a servicer, investment and origination platform specialised in PSE with ~95 FTEs. As part of the transaction CLX will take over as servicer of the portfolio, acquiring systems of Officine and maintain the CEO, Deputy and the team in charge of collection of the portfolio. The portfolio investment and the PSC-CLX partnership paves the way to further invest in PSE receivable portfolios taking advantage of a compelling market opportunity where banks may no longer be the best owner of such asset due to regulatory constraints.

This transaction highlights Pollen Street’s capability to compete for unique portfolio opportunities in markets requiring a specialist approach like the Italian Public Sector Entities receivables sector. The transaction aligns with our strategy of targeting asset-backed investments featuring robust structural protections and granular, cross-collateralised, diverse pools of assets with compelling risk-adjusted returns