ION completed the acquisition of Prelios from Davidson Kempner.

ION, a permanent capital investment holding company, completed the acquisition of Prelios, a one-stop shop for investors and banks in alternative asset management and high value-added services across the real estate and credit value chains, from Davidson Kempner, a global investment management firm. Financial terms were not disclosed. “The successful conclusion of this long journey is a great satisfaction and fills us with enthusiasm and responsibility. The acquisition by ION will allow Prelios to further consolidate its leadership role within the servicing and asset management sector. The company manages a significant portfolio of non-performing loans and real estate assets, which are key to maintaining financial stability and enhancing asset quality in the Italian financial and real estate market. The deal is part of a broader strategy to improve asset management and efficient decision-making processes through the use of data. The credit servicing industry in Italy is going through a significant consolidation phase, driven by the need to improve operational efficiency, exploit economies of scale and expand service capabilities in a maturing market that requires new, more sophisticated and evolved service propositions. Thanks to ION all this will be possible,” Fabrizio Palenzona, Prelios President .