Finint and ARECneprix (illimity Bank) launched Olympus Fund 1 and Olympus Fund 2, two vehicle for real estate – backed UTPs and real estate assets that have resources of 1 billion euros each and Unicredit (52%) and illimity Bank (48%) as investors (see here a previous post by BeBeez). Cappelli RCCD, PwC Deals, Unicredit, EY, and White&Case assisted ARECneprix and illimity. Banca Finint retained Cappelli RCCD. The investment tenure for the funds will end on 31 December 2025.
Gardant, an Italian servicer for the distressed credits sector that belongs to Elliott, launched an access point for the civil law trials at the Italian Ministry of Justice (see here a previous post by BeBeez). Alberto De Maggi, coo of Gardant, said to BeBeez that the company that ceo Mirko Briozzo heads will now have access to data and files of Italian Courts.
Even though the average borrowing cost between 2H22 and 1H23 raised from 3.1% to 4% and later to 5%, the supply chain finance (SCF) rose by +55% at the end of 1H23(see here a previous post by BeBeez). Such a tool has been a valid alternative for firms that cannot access to traditional banking facilities (71% of users) and aim to finance their working capital, said a report of FinDynamic (see here the report).
