illimity SGR has completed the first closing of the illimity Credit & Corporate Turnaround Fund (iCCT), a contribution fund dedicated to investments in Unlikely To Pay (UTP) loans to SMEs with revival and relaunch prospects.

The initial portfolio consists of loans for a gross total of over EUR200 million made to 33 companies operating in highly diversified sectors.

Paola Tondelli, Head of illimity SGR’s UTP & Turnaround Funds unit, says: “The Management Team of our first turnaround fund effectively combines financial and industrial skills that allow us to look beyond the reports to capture the potential of the companies in which the Fund invests”.

Massimo Di Carlo, Chairman of illimity SGR, adds: “The closing of our iCCT fund represents the first, very important step in the SGR’s multi-product strategy aimed at bringing innovative funds to the attention of our institutional clients.”

Read more at Private Equity Wire