illimity SGR
Fürstenberg SGR (formerly illimity SGR) is an Italian AIF manager operating three alternative investment funds — corporate turnaround (iCCT), real estate credit (iREC) and SME private debt (iSC) — with approximately EUR 700M AUM as of mid-2025, serving professional investors and Italian SMEs.
- Company typePrivate
- Founded-
- HeadquartersMilano, Italy
- Headcount11–50
- GTM typeB2B
- OfferingServices
What illimity SGR does
Fürstenberg SGR (formerly illimity SGR) is an Italian asset management company authorised under Article 35 of Italy's Consolidated Financial Act (TUF) to design, structure, and manage reserved Alternative Investment Funds (AIFs) focused on Italian small and medium-sized enterprises (SMEs). The firm operates a three-fund platform: the iCCT (Corporate Turnaround) fund invests in Stage 2 / UTP credits and equity or quasi-equity instruments of SMEs with recovery prospects; the iREC (Real Estate Credit) fund targets real estate-backed special situations including Stage 2, UTP and NPL exposures; and the iSC (Selective Credit) fund, classified as SFDR Article 8, provides senior through equity financing to performing SMEs. As of 30 June 2025, assets under management totalled approximately EUR 700 million, with the iCCT fund alone holding 45 portfolio companies representing ~EUR 4 billion in cumulative turnover and ~20,000 employees.
The firm generates revenue through management and performance fees on its AIFs, which are reserved for professional investors including banks, leasing companies and institutional capital providers. Wholly owned by illimity Bank S.p.A. and integrated within the Banca Ifis S.p.A. Group, Fürstenberg SGR combines financial, industrial and legal expertise to underwrite and manage complex SME situations through an interdisciplinary team of 11-50 professionals headquartered in Milan at Via Soperga 9. The firm is a signatory of the UN Principles for Responsible Investment since February 2023 and integrates ESG factors with a sector-based negative screening policy. On 18 December 2025 the entity was rebranded to Fürstenberg SGR as part of a unified Banca Ifis wealth-management brand offering.
illimity SGR firmographics
Firmographics- Name
- illimity SGR
- Legal name
- Fürstenberg Società di Gestione del Risparmio S.p.A.
- Website
- https://illimitysgr.com
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Fürstenberg SGR (formerly illimity SGR) is an Italian AIF manager operating three alternative investment funds — corporate turnaround (iCCT), real estate credit (iREC) and SME private debt (iSC) — with approximately EUR 700M AUM as of mid-2025, serving professional investors and Italian SMEs.
- Ownership category
- akta.pro rank
illimity SGR industry classification
Industry- Product category
- Alternative Asset Management
- NAICS
- Other Financial Vehicles (52599)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Institutional Separate Accounts & SMAs (Mandates) (FSAAAGAL)
- akta.pro secondary industry
- Equipment & Asset Finance (SME) (FSAKAGAF)
Keywords
Where illimity SGR is headquartered
LocationHeadquarters
- HQ city
- Milano
- HQ country
- Italy
- HQ region
- Europe
Offices1 record
Markets served
illimity SGR business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Collective Investment Management Services: The company's main activity is the provision of collective investment management services by managing the assets and risks of Italian and non-Italian reserved closed-end security and credit alternative investment funds (AIFs). Revenue is generated through management fees on approximately EUR 700 million in assets under management as of June 2025.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Fund management services for professional investors |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
illimity SGR product offering
Product offeringCore offering
illimity SGR (now Fürstenberg SGR) is an Italian asset management company that designs, structures and manages closed-end alternative investment funds (AIFs) dedicated to Italian SMEs. It offers three funds: the iCCT Fund for corporate special situations and turnaround credits/equity, the iREC Fund for real estate-backed credits, and the iSC Fund for private debt financing of performing SMEs through senior loans, subordinated debt and quasi-equity/equity instruments. Revenue is generated through management fees on approximately EUR 700 million in AUM as of June 2025.
Product overview
Fürstenberg SGR (formerly illimity SGR) is an asset management company that offers a platform of three Alternative Investment Funds. The iCCT Fund focuses on corporate special situations for distressed SMEs with recovery potential; the iREC Fund targets real estate credit with distressed property-backed assets; and the iSC Fund provides private debt financing for performing SMEs. Together, these funds support Italian SMEs at key stages of their lifecycle—growth, transformation and relaunch—through flexible, tailored and sustainable financial solutions. As of June 30, 2025, the company manages approximately EUR 700 million in assets.
Differentiator
Problem solved
Functional benefit
Products and services
- iCCT Fund (illimity Credit & Corporate Turnaround Fund) A multi-compartment closed-end alternative investment fund operating in corporate special situations, dedicated to investing in credits of various types classified as Stage 2 or UTP, as well as equity and semi-equity instruments issued by Italian SMEs experiencing temporary financial distress but with concrete prospects for recovery. Targeted at professional investors.
- iREC Fund (illimity Real Estate Credit Fund) A single-compartment closed-end alternative investment fund operating in real estate special situations, dedicated to investments in credits backed by real estate assets classified as Stage 2, UTP and NPL, with a flexible approach enabling new financing, debt restructuring, and direct intervention on real estate assets. Targeted at professional investors.
- iSC Fund (illimity Selective Credit) A private debt closed-end alternative investment fund that acts as a medium- to long-term strategic partner for unlisted, performing Italian SMEs, providing financing through a broad spectrum of financial instruments ranging from senior loans to subordinated debt and quasi-equity and equity instruments, with an ESG focus throughout the investment process (SFDR Art. 8 classification). Targeted at professional investors.
Quantifiable outcome
- EUR 700 million in assets under management as at 30 June 2025
- +2 more outcomes
Companies that use illimity SGR
Customer profileNamed customers6 records
Segments2 records
Ideal customer profiles2 records
illimity SGR technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
illimity SGR partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- United Nations (UN PRI)coreFürstenberg SGR is a signatory of the Principles for Responsible Investment (PRI) launched by the United Nations in 2006, having joined in February 2023. The PRI is a voluntary initiative incorporating ESG factors into investment practices.
- PricewaterhouseCoopers S.p.A.minorStatutory auditing of the company's accounts as well as of the financial statements and reports of the managed AIFs is entrusted to PricewaterhouseCoopers S.p.A.
Scale indicators5 records
Recent moves7 records
Expansion highlights4 records
illimity SGR competitors and assessment
Company assessmentDirect peers
- Tages Capital SGR: Italian alternative asset manager operating closed-end AIFs across private debt, infrastructure and special-situation strategies for Italian SMEs. Direct competitor in the Italian alternative AIF space with overlapping LP base (banks, institutional investors) and similar reserved-fund distribution model.
- Castello SGR: Italian alternative asset manager with real estate and special-situation AIFs, including NPL/UTP real estate credit strategies. Closely comparable on the iREC-style real estate credit fund and on reserved AIF structure targeted at professional investors.
- Anthilia Capital Partners SGR: Italian independent asset manager focused on fixed income, private debt and credit strategies for Italian SMEs and mid-caps. Closely comparable as a domestic alternative AM targeting Italian corporate credit with multi-fund structure and institutional LP base.
- Clessidra Private Credit SGR: Italian private credit and special-situations manager focused on mid-market Italian companies, including unitranche and turnaround lending. Closely comparable on Italian SME private credit mandate and reserved AIF structure, with similar institutional LP base.
- Green Arrow Capital SGR: Italian alternative asset manager running private debt, private equity and energy/infrastructure funds for Italian SMEs and mid-market companies. Comparable in scale, fund structure and Italian SME credit/turnaround focus, with similar reserved AIF distribution to professional investors.
Broad incumbents
- Muzinich & Co: Global private credit and special-situations asset manager with European direct-lending and UTP/distressed strategies. Comparable on credit special-situations underwriting and institutional LP distribution, but operates at much larger AUM scale and broader geographic mandate.
- DeA Capital Alternative Funds SGR: Italian alternative asset manager (part of DeA Capital) running private equity, private debt and real estate funds with institutional LPs. Overlaps on alternative AIF platform structure and Italian mid-market focus, but with a larger and more diversified product range.
- Azimut Holding: One of Italy's largest independent asset management groups, with broad multi-asset and alternative product offerings including private debt and private equity funds. Larger and more diversified incumbent that competes for the same Italian institutional and HNWI capital, but with a much wider product set.
- Anima Holding: Major Italian asset manager offering open-end and closed-end funds across asset classes for retail and institutional clients. Larger incumbent that competes for Italian institutional and private-banking capital, but with a primarily traditional fund range rather than SME special-situations focus.
Emerging players
- Wise Equity SGR: Italian private equity firm operating buyout and special-situation funds for Italian SMEs, with a focus on industrial and consumer businesses. Comparable on Italian SME turnaround/development mandate, though structured primarily as PE buyouts rather than the credit/turnaround hybrid model of iCCT.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
illimity SGR social profiles
Digital presenceillimity SGR compliance and trust
Trust signalCompliance3 records
illimity SGR financial estimates
Financial estimateRevenue estimate
Valuation estimate
illimity SGR leadership team
Management profileNumber of profiles
Profiles15 records
illimity SGR funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
illimity SGR M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about illimity SGR
What does illimity SGR do?
illimity SGR (now Fürstenberg SGR) is an Italian asset management company that designs, structures and manages closed-end alternative investment funds (AIFs) dedicated to Italian SMEs. It offers three funds: the iCCT Fund for corporate special situations and turnaround credits/equity, the iREC Fund for real estate-backed credits, and the iSC Fund for private debt financing of performing SMEs through senior loans, subordinated debt and quasi-equity/equity instruments. Revenue is generated through management fees on approximately EUR 700 million in AUM as of June 2025.
Is illimity SGR a public or private company?
illimity SGR is a private company. It is classified as corporate owned and is currently operating.
When was illimity SGR founded?
illimity SGR was founded in -1. It employs 11 to 50 people.
Where is illimity SGR based?
illimity SGR is headquartered in Milano, Italy, in the Europe region.
How does illimity SGR make money?
One revenue line is on record: collective Investment Management Services.
Who are illimity SGR's main competitors?
Direct peers on record are Tages Capital SGR, Castello SGR, Anthilia Capital Partners SGR, Clessidra Private Credit SGR and Green Arrow Capital SGR. Broad incumbents are Muzinich & Co, DeA Capital Alternative Funds SGR, Azimut Holding and Anima Holding. Wise Equity SGR is listed as an emerging player.
Does illimity SGR have an API?
No public API is recorded for illimity SGR.
What industry is illimity SGR in?
illimity SGR's product category is Alternative Asset Management. Its primary akta.pro industry code is FSAAAGAL, Institutional Separate Accounts & SMAs (Mandates), with a secondary code of FSAKAGAF, Equipment & Asset Finance (SME). Its NAICS code is 52599 and its SIC code is 6159.