Chenavari completed the acquisition of an 80% stake in Creditis from Banca Carige for $69m.

Chenavari, a specialist alternative asset manager focusing on the European markets, completed the acquisition of an 80% stake in Creditis Servizi Finanziari, a banking services provider, from Banca Carige, an Italian bank, for $69m. "This is a new, important investment for Chenavari in the consumer finance sector in Italy and we believe Banca Carige’s branch network is a unique distribution channel that we will continue to develop in the joint interest of Creditis Servizi Finanziari S.p.A and Banca Carige," Loic Fery, Chenavari Chief Executive and Co-Chief Investment Officer.