Global law firm Hogan Lovells has advised Sagitta SGR on all negotiation and completion phases of the sale of the exposures included in the “first closing” of the newly launched UTP Restructuring Corporate fund, a closed-end alternative investment fund, reserved for professional investors, dedicated to investments in large corporate UTP and Stage 2 positions. Some of the main Italian banks have participated to the first closing, completed on 15 July 2024, with sales for an amount of €300 million.
The aim of the fund is to maximize the recovery of the contributed exposures in the medium-long term by promoting and supporting restructuring and relaunching operations of companies, also through the provision of new finance for the companies invested in.
The Hogan Lovells team that advised on the transaction was led by Italy managing partner Patrizio Messina together with counsel Andrea Cicia, senior associate Leonardo Bafunno and associate Giacomo Farinati.
