Yard Credit & Asset Management Special Servicer alongside Polis in the launch of the Kleos Fund
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Yard Credit & Asset Management, a Yard Reaas Group company, has been selected as Special Servicer by Polis SGR for the launch of the Kleos Fund dedicated to the management and valorisation of secured and unsecured NPL/UTP portfolios, including fractional ones.
The transaction, which involved four Italian co-operative banks for the contribution of credits to the Fund for a gross book value of approximately € 60 million, aims at reaching the target amount of € 300 million maturing in 2026. The Kleos Fund subscribed 100% of the securitisation notes issued by NILO SPV of which Gardant is the Master Servicer and Yard Credit & Asset Management is the Special Servicer.
Yard Credit & Asset Management will be responsible for the recovery, management and servicing of the NPL credits.
“The launch of the Kleos Fund represents further confirmation of Yard Credit & Asset Management's commitment in the credit servicing sector,’ said Eleonora Ambrosetti, CEO of the company, "and consolidates our role as a reference partner for financial operators and institutional investors. Our assignment as Special Servicer allows us to apply our expertise to maximise the value of assets under management and offer effective solutions for the management of distressed credit. I would like to thank the whole Polis team, starting with CEO Michele Stella, for the synergy we have established."
