Cofiri, the Rome-based merchant bank, is planning to start a securitization business in Italy, according to a senior official at the firm. The firm is making the move to capitalize on what has become a lucrative business in Italy, which now ranks closely behind the U.K. in terms of securitization market-size.
Tentatively, Cofiri plans to be the asset manager for a collateralized debt obligation as well as to partner with an international investment bank to market securization to local governments and authorities as a funding option. Cofiri would act as an underwriter for these deals, says the official.