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Clessidra launched a new fund dedicated to UTPs

26 September, Ansa

Clessidra has launched its first fund dedicated to the unlikely-to-pay credits of manufacturing companies, Clessidra Restructuring Fund. The portfolio includes 14 companies with total revenues for 1.4 billion euro. The portfolio was assessed at 320 million euro at the first closing.

The fund has two components. One is the credit component, which includes holdings of solid Italian companies undergoing industrial and financial restructuring. The other component is new finance, aimed at gathering funds to relaunch and develop the companies in the portfolio.

Source: Ansa

Translator: Cristina Ambrosi