Beka Finance continues to grow as an independent financial group with a diversified portfolio including private banking, wealth management, alternative funds, real estate, investment banking, online brokerage, and a virtual bank. The company has now reached an agreement with Cerberus to acquire Haya Titulización, a platform managing debt issuances worth €23.2 billion.
Haya Titulización is part of Haya Real Estate, created by Cerberus to manage non-performing loans linked to entities such as BBVA, Unicaja, and especially Sareb, the state “bad bank.” This operation comes at a challenging time for Haya Real Estate, which is facing financial difficulties and negotiating with creditors after being unable to meet a €425 million bond issuance. To seek solutions, Cerberus hired Houlihan Lokey, a specialist in restructurings.
The acquisition of this platform by Beka represents an opportunity to strengthen its financial offering, relying on executives from major international banks. To finance this expansion, Beka is conducting a capital increase of up to €100 million.
It is worth noting that securitization converts financial assets such as mortgages, loans, or credits into tradable instruments, thereby facilitating new sources of financing. In Spain, entities like CaixaBank, Santander, EBN, and Intermoney lead this business, which has also recently been used by Sacyr.
Meanwhile, Beka Finance has announced the dismissal of José Luis Blázquez as head of private banking, although he will remain a shareholder. His position will be temporarily covered by the group’s management, while Santiago Vivas, from Indosuez Wealth Management, has been hired to relaunch this area.
