(Finance) – The Group Azimuththrough some of its funds, has provided a 10 million euro loan, 70% guaranteed by SACE, to the Ciro Paone Groupan Italian company that owns the high-end clothing brands Kiton, Kired and Sartorio Napoli and is an excellence of Italian tailoring in the world. The operation was originated by Azimut Direct, the Group division active in investment banking and direct lending, and financed by the Azimut Diversified Corporate Credit ESG-8 SCSp RAIF fund and other private debt funds managed by Azimut Investments.
The financing operation is aimed at strengthen the logistics department of the Group to support volume growth, also giving greater centrality to women’s product lines; open new direct stores and renew the Kiton brand sales spaces, with the aim of keeping the image and experiences within the boutiques constantly updated.
“This operation diversifies our credit structure, placing us in relation and in constant comparison with a player of absolute importance in investment banking, inaugurating a synergistic structural finance relationship”, he said Antonio De Matteis, CEO of Ciro Paone.
“This operation is one of the first interventions of the Azimut Diversified Corporate Credit ESG-8 fund, a fund that strengthens Azimut’s commitment to supporting excellent Italian companies, promoting the adoption of sustainable and green practices – he commented Giorgio Medda, CEO of Azimut – Thanks to the Group’s origination, analysis, structuring and investment capabilities, Azimut is increasingly establishing itself in this market as an integrated asset manager.”