Cuvee, a platform for the management of UTP credits relating to the real estate sector, has announced the expansion of its assets under management thanks to new contributions in favor of Back2Bonis fund for overall 295 million euros by Unicredit Leasing and Bper Banca.
Overall, the total of credits managed thus exceeds the quota 2,5 billion euros, confirming the primacy of Back2Bonis fund on the Italian market.
What Back 2Bonis is and what it does
Back2Bonis is the first Italian credit fund specialized in Utp (Unlikely to Pay credits) relating to real estate and among the main ones at European level. Within the Cuvée platform, the Prelios group acts as fund manager, Real Estate partner and Special Servicer for the management of credits with underlying real estate leasing, in partnership with Amco which acts as Master and Special Servicer.
“The Back2Bonis Fund allows participants to benefit from the potential recovery in value of the positions through the valuation of the units held in the fund itself. It also facilitates the turnaround process of debtor companies, also thanks to the new finance that the Fund can disburse in order to allow a proactive management of credits and underlying properties”, reads the note.
Prelios: "Transaction that confirms Npl development capacity"
“With this operation the Prelios group confirms its ability to develop in the management of non-performing loans, offering flexible and innovative solutions that allow banks to enhance their credit exposures as well as favor the turnaround of businesses, with clear benefits for the real economy and employment ”, continues the note.
Furthermore, the Prelios group due to its own characteristics of integrated platform combines specific skills in the real estate sector with those of managing UTP positions, creating synergies and maximizing credit recovery possibilities.
