Coverage
The regions and markets where Davis & Morgan SPA pursues distressed debt investment activity.
Regions We Serve
Our investment activity is concentrated in Southern European jurisdictions that have experienced significant non-performing loan volumes and where restructuring markets are well established.
Italy
Our home market and the largest by transaction volume. We maintain relationships with major banks, regional lenders, and servicing companies across the country.
Spain
An active market for distressed debt transactions, particularly in residential mortgage and commercial real estate portfolios. We work with local legal and servicing partners.
Portugal
A market with sustained NPL activity following the post-2008 banking sector reorganisation. We engage with both domestic institutions and international sellers active in the market.
Greece
A jurisdiction with significant distressed credit volumes and an evolving regulatory framework for portfolio sales. We monitor market developments and participate in select transactions.
Portfolio Types by Region
The following table illustrates the primary asset classes we encounter across our coverage areas. Actual opportunities vary by market conditions and seller activity.
Residential Mortgages
Secured residential mortgage portfolios represent a significant share of transaction volume in Italy and Spain. These portfolios typically involve judicial recovery proceedings and collateral valuation at scale.
Commercial Real Estate
Commercial real estate loans, including development financing and income-producing properties, are present across all four markets. Recovery strategies depend on asset type, tenancy, and local market conditions.
Corporate Loans
Corporate exposures, including bilateral and syndicated loans to small and mid-market enterprises, are a core component of portfolios in Italy and Portugal. Workout strategies involve restructuring and negotiated settlements.
Consumer Credit
Unsecured consumer credit portfolios, including personal loans and credit card receivables, are present in Greece and Spain. These portfolios rely on mass-recovery processes and digital servicing platforms.
Working with Local Partners
In each market we cover, we collaborate with established servicing companies, legal firms, and real estate advisors who understand the local judicial system, regulatory environment, and market dynamics.
This partnership model allows us to execute effectively across multiple jurisdictions without maintaining physical offices in each country. Our Milan team coordinates activity and maintains oversight of all portfolio management functions.
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