Milan, July 10, 2023 – Cuvée, the innovative multi-originator platform that manages UTP real estate credits, has increased the volume of assets under management thanks to new contributions to the Back2Bonis Fund totaling 295 million euro, from Unicredit Leasing and BPER Banca.
The new contributions bring the total amount of loans under management to more than 2.5 billion euro, confirming the Back2Bonis Fund’s leadership on the Italian market.
Back2Bonis is the first Italian credit fund to specialize in Unlikely To Pay real-estate loans and one of the primary players in Europe. Within the Cuvée platform, the Prelios Group acts as Fund Operator, Real Estate Partner and Special Servicer for management of credits with underlying real estate leases, in partnership with AMCO as Master and Special Servicer.
The Back2Bonis Fund allows participants to benefit from the potential recovery of credit positions by raising the value of the quotas held in the fund itself. It also facilitates the turnaround process for debtor companies, thanks to the new financing provided by the Fund for proactive management of credits and underlying assets.
With this transaction, the Prelios Group confirms its development capabilities in impaired loan management, with flexible and innovative solutions that allow banks to enhance the value of their credit exposures and facilitate corporate clients’ turnaround, with obvious benefits for the real economy and employment.
Prelios SGR confirms its leadership in asset management in Italy with an innovative product offer ranging from real estate funds to credit funds and advanced structures such as multi-sector SICAFs (fixed-capital investment companies) and funds specializing in impact investing projects.
As an integrated platform, Prelios Group also combines and reinforces specific know-how in the real estate sector with UTP management expertise, to create synergies and improve opportunities for credit recovery.