PwC team of NL Deals and UK Lead Advisory Deals advises Athora on the sale of its €955m mortgage portfolio

PwC NL Deals and UK Lead Advisory have advised Athora Netherlands N.V. (“Athora”) on the sale of its €955m performing mortgage portfolio to an institutional investor, with Dynamic Credit taking over the legal title ownership. PwC UK Lead Advisory worked alongside PwC Netherlands, the engaging party, led by Jessica Lombardo and Martin Dijkman.

Athora is one of the largest Dutch insurance companies and offers life, mortgage and pensions solutions.

The Project Ivy portfolio consisted of performing, long-dated Dutch mortgages, which had either been originated or acquired by Athora historically.

PwC ran a competitive two-phase auction process over 2022 and 2023, with completion occurring in Q1 2024.

The NL Deal team advising on the deal consisted of Jessica Lombardo, Martin Dijkman, Maurice in 't Veld and Lianda Keyser.

The UK Corporate Finance team advising on the deal included Rob Boulding, Chris Bennetts and Sahil Dhanani.