The Copernicus Southern European NPLs will acquire secured SME and Corporate NPLs backed by residential and commercial real estate assets (hotels, offices, retail) at discount from financial institutions, funds and securitization vehicles.

The fund aims to monetize the NPL investments through different workout and asset management strategies, mainly via consensual agreements with the

debtors, but also judicial auctions and insolvency proceedings. Sometimes also by repositioning the asset and selling the collaterals. The target IRR for the fund is 13-15%, in line with the historical track record of Copernicus prior portfolios. 

Copernicus raised around EUR 150m and closed the fund at the end of Q2 2023. 

For more information, please contact us at info@open-funds.ch