Who We Are
A Milan-based merchant banking firm focused on distressed credit markets in Southern Europe.
Our Firm
Davis & Morgan SPA is a merchant banking firm headquartered in Milan, Italy. Founded in 2012, the firm specialises in the acquisition and management of non-performing loan portfolios and distressed debt instruments across Southern European jurisdictions.
Our team brings together professionals with deep experience in investment banking, corporate restructuring, debt recovery, and asset management. We work closely with a network of servicing partners, legal advisors, and real estate specialists in each market we cover.
We pursue a relationship-driven investment approach, prioritising transparency with counterparties and a disciplined underwriting process. Our objective is to deliver consistent risk-adjusted returns while contributing to the orderly resolution of distressed credit in the markets we serve.
Values That Guide Our Work
The following principles shape every transaction we evaluate and every relationship we build.
Discipline
We apply a rigorous and consistent underwriting methodology to every portfolio, ensuring that investment decisions are grounded in thorough analysis and realistic recovery assumptions.
Transparency
We maintain open communication with counterparties throughout the transaction process, from initial portfolio review through closing and post-acquisition management.
Commitment
We take a long-term view of each investment, working patiently with servicing partners and local advisors to maximise recoveries over the appropriate time horizon.
How We Are Structured
Our organisation is built around four complementary functions that work together across every transaction.
Origination
Identifies and evaluates portfolio opportunities through relationships with banks, financial institutions, and corporate sellers.
Underwriting
Conducts detailed due diligence, valuation analysis, and risk assessment to support investment decisions.
Legal & Structuring
Structures transactions in coordination with legal advisors to ensure enforceability and regulatory compliance.
Asset Management
Oversees portfolio servicing, workout strategies, and recovery execution in partnership with local specialists.
Headquartered in Milan
Our offices are located in the heart of Milan's financial district, positioning us at the centre of Southern European credit markets.
Milan serves as a natural hub for distressed debt activity in Southern Europe. The city hosts the principal financial institutions, legal firms, and servicing companies that operate across Italy, Spain, Portugal, and Greece.
From our office at Piazzetta Maurilio Bossi, 1, we coordinate investment activity across our four core markets and maintain regular dialogue with counterparties, advisors, and regulators in each jurisdiction.
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