Davidson Kempner Capital Management announces Prelios S.p.A. sale

Davidson Kempner Capital Management, a global investment management firm, has announced the signing of a binding agreement with X3 Group, a subsidiary of ION, for the sale of Prelios S.p.A.

Established in 1990 in Milan, Prelios is the Italian leader in alternative asset management, servicing and specialized property services with more than €40 billion ($44 billion) of assets under management across nonperforming loans, unlikely-to-pay exposures and real estate funds.

Since investment funds advised by Davidson Kempner acquired the business in 2018, Prelios has been able to grow its revenue from €100 million ($109 million) to more than €300 million ($327 million) while significantly improving profitability.