(Finance) – doValue, through its subsidiary doValue Greecehas been awarded a new servicing mandate which represents an additional Gross Book Value of approximately 500 million euros (Neptune Project).
In 2020, an entity affiliated with funds managed by Fortress Investment Group acquired a portfolio from Alpha Bank for a Gross Book Value of approximately 1.1 billion by assigning a temporary servicing mandate to the Greek servicer CEPAL.
With the Neptune Project, doValue will assume the role of long-term servicer for the management of approximately 50% of the initial portfolio of 1.1 billionthe role will be assumed at the time of the onboarding of the portfolio which is expected to be finalized by the end of April 2022. The portfolio includes non-performing mortgage loans granted to companies and small and medium-sized enterprises in Greece.