Non-Performing Loans (NPL) and Unlikely to Pay (UTP)

We support the workout of NPLs, UTPs and leasing loan portfolios, whilst managing the underlying real estate collaterals. In Italy, we resolve around 70 per cent of portfolios consensually – one of the highest success rates in the market. Our average ‘time to disposition’ of collateral assets within the Italian judicial system is over 40% faster than the market.

Real Estate Operating Company (REOCO)

We support the full credit bid process and participate at real estate auctions during legal procedures. We perform real estate asset management activities including capex projects until full resolution – including disposal and sale. Find out more about our REOCO services here

Real Estate

We achieve best possible value when an asset is being sold consensually or at a judicial auction by driving the activity of our network of brokers and introducing the real estate asset to our investor network.


We source NPL/ UTP deal opportunities for investors on the primary and secondary market. We provide end-to-end buy/sell side advisory including due diligence and underwriting activities as well as securitisation establishment and deal execution support.

Roberto Zambotti
Managing Director
David Campion
Head of Servicing - Secured Servicing & Real Estate
Via Borromei 5,
20123 Milano
Telephone: +39 02 3030 0280