DeA launches second corporate credit recovery fund

This is the alternative fund manager's second vehicle to provide DIP (debtor in possession) financing for the Italian market. Idea CCR II has already reached a €300m first close and has nine Italian companies in its portfolio, with combined revenues of €1bn and EBITDA of €60m. 

The predecessor fund – Corporate Credit Recovery I – was launched in June 2016, targeting financially stressed mid-market Italian companies, aiming to support their turnaround and restructuring plans. In July 2016, the fund held a first close on €260m towards a €500m target.

Idea Capital Funds rebranded to DeA Capital Alternative Funds in October 2017.

Investments
The fund will be able to provide credit as well as new money to companies that meet its criteria.

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