Muzinich holds first close for Italian debt fund

The Luxembourg-based vehicle, which will be managed by teams in Milan, London and New York, expects to hold an additional closing later in the year. 

Muzinich had assets under management totalling €20.8bn at the end of March 2014. 

Investors
Commitments have been provided by institutional investors including insurance companies, pension funds, banks and family offices in Italy and abroad. 

Investments
Italian Private Debt Fund will target companies with revenues of €50-500m and EBITDA of at least €7.5m. It will provide Italian SMEs with 5-7-year financing of €10-20m.

Target sectors include the industrial, consumer goods, food, luxury, retail, healthcare, communications, transport and business services industries. Real estate, banking, finance and high-tech companies will not be considered.

The fund will seek companies focused on international expansion. Firms in operational recovery and start-ups are excluded from the vehicle's remit. 

People
George Muzinich is the founder and CEO of Muzinich.

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• Topics
• Southern Europe
• Funds
• Italy