The portfolio includes secured and unsecured bankruptcy and other enforcement claims.
The sale of non-performing loans is part of UniCredit plan to clean its balance sheet, reported Reuters.
UniCredit Credit Management Bank will continue to service significant portion of the portfolio, while others will be migrated to third parties.
AnaCap partner Justin Sulger said: "We are delighted to have completed this acquisition, emphasising our commitment to helping rebuild the European financial services sector by establishing strong partnerships with institutions like UniCredit.
"We remain highly confident in our ability to continue to deploy capital in a wide range of credit opportunities across the continent, harnessing broad based expertise in financial services, including a deep understanding of consumer, SME and mortgage debt in local markets."
With the latest transaction, AnaCap has so far purchased over €4.5bn claims in Italian NPLs in the past two years and a €550m performing portfolio of Italian salary guaranteed loans.
In December last year, UniCredit sold its bad loans to AnaCap for $700m.
UniCredit is reportedly in talks with other investors to sell the current claims and another set of bad loans for around €3bn, reported The Walls Street Journal.
