DoValue Spa has secured two new mandates in the Hellenic region through its subsidiary, DoValue Greece Loan and Credit Claim Management Company, totaling €1.6 billion.

The first is a new mandate to manage the entirety of a portfolio of proprietary funds managed by affiliates of Fortress Investment Group and Bain Capital. The portfolio represents the second of three tranches of the “Alphabet Project” in Greece, a portfolio with a total value of approximately €5 billion after the first tranche was awarded.

The Alphabet Secured Retail portfolio, for which doValue has been appointed as the sole and only servicer, includes gross book value of approximately €1.4 billion and total credit of approximately €2.8 billion that covers about 17,000 borrowers and is backed by real estate collateral real estate.

In addition, a new NPL contract worth approximately €200 million gross book value was signed in Cyprus.

“These contracts mark a significant start to the new year for the group, with €1.6 billion of GBV from new mandates after exceeding the target for new business in 2024, chart the positive path taken by doValue and reinforce its confidence in achieving the growth and profitability targets set out in the 2024-2026 Business Plan,” the company wrote in the released note.

Original Story: MarketScreener | Author: Alliance News
Edition: Prime Yield