Sagitta is currently managing Europa Immobiliare 1 (listed retail real estate fund under final liquidation) and Aster (real estate fund which owns a large residential development project named Milano4You) with current AuM of €50M.
The acquisition – and the relaunch program – of Sagitta SGR thanks to Europa Investimenti is part of a wider growth strategy of the Arrow Global group into the asset management and servicing business with a specific focus on the distressed asset market. The last August 2018, the SGR obtained the approval from the Bank of Italy to the change of control (Arrow) and the required authorization to launch new funds. Last January 28th the SGR obtained the authorization to set-up also credit funds and is now fully authorized under the Italian Law.
Sagitta SGR started a new phase of development and a new strategy, leveraging the human capital coming both from Europa Investimenti and Arrow to integrate the organizational structure of the SGR.
After the acquisition of the SGR from Arrow Global (indirectly through the acquisition of EI), the current shareholders of Sagitta SGR are:
- Europa Investimenti S.p.A.: 95,64% (EI is fully controlled by Arrow Global);
- Veneto Banca S.p.A. in L.C.A. (under compulsory liquidation): 4,36%.
The Board of Directors (BoD) of the SGR is composed by:
- Mr. Avv. Sido Bonfatti (Chairman)
Sido Bonfatti is a lawyer and a professor (of the Italian Bankruptcy Law) at the University of Modena. He has been Chairman of the BoD and board member of several Italian banks (Istituto Bancario Siciliano S.p.A., Banca Industriale Agricola di Radicena, Banca Provincia di Napoli, Finper, Banca dei Comuni Nolani, Banca Popolare San Marco Argentano, Euromobiliare Gestioni S.p.A., Credito Emiliano Lux S.p.A., Banca Popolare Andriese S.p.A., Banca di Latina, Banca del Garda, Banca Interprovinciale S.p.A., Banca Carim S.p.A.). Sido Bonfatti has also been professor of Italian Law at the law department of the University of Modena and Reggio Emilia, teaching also Commercial Law for more than 10 years. Since 2017 he has also been responsible for the Insovency Law program, held in English. He is the Chairman of the BoD of the SGR since May 2013.
- Mr Stefano Bennati (Vice-Chairman)
Being one of the founders of Europa Investimenti, Stefano is running EI since the beginning in 2007 and managed several bankruptcies and concordato procedures. He has been responsible for some of the group's companies and is currently in the BoD of Sagitta SGR as Vice-Chairman. Before EI, Stefano has been an investment director at I2 Capital for three years and a director at Banca Intesa S.p.A., running the private equity and special situations division. At the beginning of his career, he worked as business analyst in Cofisa S.p.A. and in Mediocredito Lombardo S.p.A. into the Merchant Banking division. Stefano holds a magna cum laude degree MSc in Finance from the Bocconi University.
- Mr Claudio Nardone (Chief Executive Officer)
In Europa Investimenti since 2011, Claudio has been engaged in distressed M&A and investments in special sits and is now the CEO of Sagitta SGR. He has been responsible for some of the group's companies (Mediacontech, HDI, SBP, EICF…) and is currently in the BoD of other listed companies in Italy and abroad (Fintel Energia, Fintel Enerjia Doo). Before joining EI, Claudio has been the Head of IBD at Banca MB (an Italian merchant bank), an investment director at Meliorbanca Asset Management SGR, managing two PE funds (Star Venture Fund I and MeliorEquityFund) sponsored by Meliorbanca and also at Gallo&C. S.p.A., an advisory boutique. At the beginning of his career, Claudio worked in EY, Bax Global Inc. and Mc Donald’s Inc. Claudio holds a MSc in Finance from the Bocconi University.
- Mr Alberto Manfroi (Independent Board Member)
Alberto Manfroi has been a partner in the law firm Atrigna & Partners for more than 10 years. He deals with the law of financial and banking markets, assisting banks and other players in relation to the study and implementation of transactions on financial instruments and more generally to financial regulation. Previously, he held the position of internal lawyer in several industrial and banking groups. He is Chairman of the Board of Directors of BG Saxo SIM S.p.A. and speaker at conferences related to his specialization.
- Mr Massimiliano Ciferri Ceretti (Board Member)
Massimiliano Ciferri is Arrow Global’s Italy Country Leader. Prior to his current role, he led the Italian operations of a pan-European debt management company. Before that, he heId various leadership roles (general management, sales and operations) primarily for banking and financial institutions such as GE Capital, Prelios and Banca Sistema. He also taught courses at the University of Turin, Università della Svizzera Italiana in Lugano as well as at the ESCP’s campuses in London and Paris. Massimiliano holds a BA, MSc and MPhil from the LSE.
- Mr Carlo Bosello (Board Member)
Carlo Virgilio Bosello is an accountant in Milan since 1983. He has been a member of the Milan Association of Chartered Accountants since June 1983. Since that date he has carried out professional activities with his own law firm and deals mainly with corporate and tax issues with specific skills in the financial and industrial sectors. He is founder and senior partner of the professional firm Studio Bosello & Associati (2009). He holds the positions of Chairman of the Board of Statutory Auditors or Board Member of several companies and is a member of the Supervisory Board of four entities.
- Mr Emanuele Urbinati (Board Member)
In Europa Investimenti, since March 2011 he is currently Investment Director and responsible for investments through bankruptcy and arrangement with creditors (Head of Concordato Strategy). Emanuele has been a Board Member in several companies of the Europa Investimenti group and is currently also a Board Member of Sagitta SGR. Graduated in Business Economics, he obtained a Master's degree in Administration, Finance and Control at the Bocconi University in Milan.
The Supervisory Board is composed by:
- Dott. Fulvio Cantori (Chairman)
- Dott. Giovanni Giovannini
- Dott. Andrea Maria Longo
Europa Investimenti is the leading Italian investor specialized in the single name distressed assets market. Founded in 1988, and among the first PE operators in Italy, post its successful relaunch in 2007 with a new focus on NPLs and special situations, EI has achieved high risk-weighted returns for its shareholders and co-investors with more than 70 transaction closed, extracting value from difficult situations like BCA, PBCA, compulsory liquidations, administrations, bankruptcies, debt restructuring compositions among creditors.
EI sources its investments opportunities from more than 120,000 bankrupted companies currently managed by the Italian Courts and from its strong network throughout the Italian market.
EI also invests in a wide range of single name NPLs (both secured and unsecured) and acquires portfolios of mid single name aggregate.
Arrow Global Group Plc is a leading European asset manager, NPL investor and credit servicer, based in UK (headquarter in Manchester and offices also in London) and focused on the acquisition and management of NPL portfolios, bad loans, consumer credits. Arrow acquires and extract value from both single name NPLs and portfolios.
The group has grown significantly in the last 5 years, acquiring different businesses all over the Europe. The Italian strategy provided the acquisition of several investment platforms/servicers, including also Sagitta SGR, which are:
- Europa Investimenti S.p.A.
- Zenith Services S.p.A.
leading independent master servicer specialized into the management of the SPV vehicle for securitizations (according to the Law 130/1999);
- Parr Credit S.r.l.
Italian company based in Rome and focused on the credit collection of small ticket NPLs.
The Italian strategy is guided by Arrow Global Italy, sub-holding born to run the Italian business. Arrow has more than 2,100 employees in 5 countries (almost 400 in Italy).
Chief Executive Officer
Massimiliano Ciferri Ceretti