DeA Capital Alternative Funds has expanded its business into the shipping industry in Italy.
Namely, the company extended the credit segment of the IDeA Corporate Credit Recovery II fund set up in December 2017.
CCR Shipping sub-fund has collected a portfolio of around USD 200 million in non-performing loans from the banking system to eight shipowners.
Three of the fund’s partner banks, including Banco BPM, Banca IFIS, UBI Banca, have joined the initiative.
The company informed that the sector is expected to be extended to other institutions.