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Amco-Prelios: a new fund to manage UTPs for 1.5 billion originated from real estate

27 December, Repubblica

Amco (former Sga) and Prelios entered an agreement with Mps, Mps Capital Services, Ubi Banca and Banco Bpm for the creation of a multi-originator platform to manage real estate unlikely-to-pay.

In the first phase of the project, the banks will transfer to the fund UTPs amounting to 450 million euro. The objective of the fund is to manage credits for 1.5 billion euro.

Amco will act as the master and special servicer for the securitisation, while Prelios will be the real estate partner as well as the fund manager through Prelios Sgr.

Source: Repubblica

Translator: Cristina Ambrosi