French banker lands exceptional and controversial contract to restructure Venezuelan debt
Matthieu Pigasse, a banker from Centerview, has secured a controversial contract to restructure Venezuela's significant debt. The deal, which was highly competitive, involves a debt estimated between $170 billion and $200 billion. This restructuring is expected to have widespread implications for various stakeholders, including China, Russia, and American investment funds.
- ▪Matthieu Pigasse arrived in Caracas to offer his services to the Venezuelan government.
- ▪He secured the contract after a competitive bidding process against rival Thomas Lambert.
- ▪The debt restructuring is estimated to involve between $170 billion and $200 billion in total debt.
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Matthieu Pigasse, in Liffre, France, April 25, 2026. LOU BENOIST/AFP On February 11, the banker Matthieu Pigasse arrived at the Cayena Hotel in Caracas to offer his services to the Venezuelan government. There, he crossed paths with Thomas Lambert, his rival from the Lazard bank, also vying for the contract. The two men completely ignored each other. A few weeks later, they met again in the hotel's corridors. The pressure was at its peak: Only a few days remained before the country, led by Delcy Rodriguez chose, the bank that would negotiate its debt restructuring with creditors. In the end, Pigasse, head of the Paris branch of American investment bank Centerview, secured the deal, as the Wall Street Journal reported on Tuesday, May 26, and Le Monde independently confirmed.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Le Monde (EN).
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