Clessidra raises €320m

The Italian private equity firm holds initial close for first restructuring fund.

Clessidra has held a first close of The Clessidra Restructuring Fund at €320 million. The fund is the firm’s first committed to bank credits towards industrial companies and includes a compartment dedicated to credits and one dedicated to new finance. Amco (formerly SGA), BancoBPM, Banca Cremasca e Mantovana, Banco Desio, Credito Padano, BNL, BPER, La Cassa di Ravenna, MPS, and UBI Banca are among the financial institutions involved.

Capital for the fund was raised from the firm’s Italian institutional investor base.