Hoist Finance is pleased to announce that it has completed the acquisition of UK debt purchaser Azzurro Associates ("Azzurro"), a specialist in SME non-performing loans with a portfolio book value of GBP 200m. The transaction, announced on 10 February 2026, has been closed following the receipt of required regulatory approvals and the satisfaction of customary closing conditions.
"I am delighted to welcome the Azzurro team to Hoist Finance. The UK is one of the largest credit markets in Europe and with this acquisition, we get a high-yielding portfolio, an established platform for effective loan management, and a great team with proven sourcing skills on ground. Azzurro's expertise in the SME segment is highly complementary to our existing UK operations and we now have a robust foundation for further expansion in the UK market over the years ahead," says Harry Vranjes, CEO of Hoist Finance.
Managing Director of Hoist Finance UK will, from today, be Andrew Birkwood, founder and previously Group CEO of Azzurro. He comments: “I am looking forward to combining the skill sets of Azzurro with the Hoist Finance UK team, creating a leading investor and manager of NPL’s in the UK. I am excited to continue the journey with the new combined Hoist Finance team – delivering great results for the business and all stakeholders.”
Under the transaction, Hoist Finance has acquired the UK operations and assets of Azzurro, including its FCA-regulated entity, from US investment manager Elliott Investment Management LP and a number of Azzurro senior executives.