The Illimity Real Estate Credit Fund (iREC), managed by illimity SGR, has seen a significant increase in its funding over a period of 18 months, reaching a total of €380 million. This includes a notable addition of €92 million through five new loan agreements in the last quarter of 2023. The fund, which caters to institutional investors, specializes in distressed credits, particularly focusing on Unlikely-to-Pay (UTP) balances that are secured by real estate assets. This strategy involves a mix of mortgage loans and lease agreements.
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Massimo Famularo
Blogger and Investment Management Advisor with focus on Distressed Assets & NPL. Massimo is Chief NPL & Fintech Editor at Credit Village Magazine.