Credit, 100 million Azimut Fund for agrifood in the South with Cdp and Mediocredito Centrale

An alternative credit instrument to support the development of the agrifood sector, especially in the South, with 100 million euro, 70 million of which are largely guaranteed by Cdp and Mediocredito Centrale: the first closing of the direct lending fund 'Azimut Agrifood Mezzogiorno Sca Sicav Raif' was announced yesterday, dedicated, the promoters emphasise, to 'one of the most recognised Italian excellences'.

The closing, amounting to 70 million euro, was led by Cassa Depositi e Prestiti and Mediocredito Centrale, both anchor investors. The fund, which, say from Azimut "continues to register the interest of numerous institutional investors", has atotal funding target of 100 million euro.

It is an initiative that 'intends to contribute to meeting the medium- to long-term capital needs of agrifood companies and their supply chain, supporting their growth in all phases of the life cycle'. To do so, 'it will mainly finance SMEs, Mid-Caps, and Large-Caps based in the regions of Southern Italy, or their investment projects in those territories, through debt instruments (bonds, minibonds, and direct loans). Through its action, the Fund aims to stimulate the development of the territory, generating positive impacts on the community and the growth of the local economy'.

It is estimated that more than 220 companies in the southern regions currently meet the requirements to be an ideal target for the Fund, but it is a perimeter that grows considerably if the perimeter is enlarged to include the entire supply chain, including, for example, companies producing fertilisers, animal feed and equipment related to the processing of agrifood products. Azimut then emphasises a 'marked focus on companies committed to achieving concrete objectives linked to environmental and social sustainability values, in line with Article 8 of the Sfdr regulation (Sustainable Finance Disclosure Regulation, an EU standard in force from March 2021), and on the promotion of Esg values'.

"We are consolidating our commitment to supporting the Italian economy through a new private debt fund focused on the agri-food industry, a strategic driver of growth and guardian of the unique identity value that distinguishes Made in Italy throughout the world. With the participation of two of the country's leading institutional investors," said Giorgio Medda, CEO of the Azimut Group, "the fund aims to combine financial returns and territorial development, enhancing human capital and entrepreneurial merit to trigger a virtuous circle of sustainable growth and new employment.