The Credit Servicing practice of Loan Agency Services (LAS) is supporting the management and monitoring of the loans in the “UTP Restructuring Corporate” fund, established by Sagitta SGR S.p.A. and focused on large corporate UTP and Stage 2 exposures. LAS contributes with its professional services and its proprietary platform, CAL LAS.
Sagitta recently completed the fund’s first closing, raising €300 million with the support of Europa Investimenti as advisor and Zenith Global as master servicer. The capital was contributed by major Italian banks. The fund’s objective is to maximize the recovery rate of medium- to long-term exposures by supporting corporate restructuring and turnaround transactions, and by providing new financing when necessary.
Within this framework, LAS actively supports Sagitta by combining its tailored professional services with the use of CAL LAS, a proprietary, flexible, and customizable platform fully developed by LAS. The system ensures complete credit lifecycle management—from onboarding to oversight of forecasts, covenants, and documentation.
Leveraging its established experience in agency roles, LAS has also stepped in as facility agent, restructuring agent, security agent, and support to the SACE agent for the loans acquired by the fund, facilitating and accelerating the replacement processes of the selling banks.
LAS team is led by Brunella Amoruso, Equity Partner and Head of the Credit Servicing practice, supported by Senior Manager Cristina Bizzarri, Associate Alice Laiso, and Analyst Maikol Vannucci.
Brunella Amoruso commented: “We are thrilled to be working with Sagitta on this important project, bringing our deep expertise in UTP credit management and our specialized IT tools to the table. Our goal is to continuously improve efficiency in credit servicing processes, ensuring reliable, timely, and practical support to the Sagitta team so they can focus on their core business activities.”
Claudio Nardone, CEO of Sagitta, added: “Investments in UTP loans and the provision of new financing in restructuring contexts require the ability to manage complexity and non-standard ongoing processes. In LAS, we have found a knowledgeable partner with distinctive expertise in our sector, capable of supporting us through customized tools both in the onboarding and monitoring of the fund’s credit lines, as well as in SACE Agent and bank agent activities—roles that are key to successful transactions and asset valorisation.
