Sagitta SGR

What Sagitta SGR does

Sagitta SGR S.p.A. is an Italian alternative asset management company (Società di Gestione del Risparmio) headquartered in Milan that promotes and manages closed-end alternative investment funds (FIA) reserved for professional and institutional investors. Founded in 1997 (and re-established under the Sagitta brand in 2019 following the acquisition of Vegagest SGR by Europa Investimenti and subsequent integration into the Arrow Global Group platform), the firm operates a multi-asset, multi-strategy platform covering credit opportunities (NPL and UTP portfolios), direct lending to companies in special situations, real estate (Brownfield Development, Value-add, Special Situations), and energy/infrastructure (photovoltaic plants and Greenfield development). Sagitta manages approximately €2.4-2.5 billion in assets including undrawn commitments, employs 11-50 people, and serves roughly 1,500 investors across its vehicles.

The product set spans flagship credit and direct lending vehicles (SGT ACO Umbrella Italy Fund, SGT ACO Direct Lending (Italy) Fund at €100 million, SGT ACO III Lending Umbrella, SGT ALO Umbrella Direct Lending), the UTP Italia Fund combining securitization with multi-compartment FIA structure, and feeder funds into the pan-European Arrow Credit Opportunities master vehicles. Real estate exposure includes both fund products (Aster Fund, SGT Sansedoni, SGT CPI 2 Italy Real Estate Fund) and direct assets (Navigli Towers, Donnafugata Golf Resort & Spa, Via Paradisa student housing, Villa Chigi Saracini, Milano4You smart district, and the Obton Italy Fund's portfolio of 94 photovoltaic plants). The firm operates a proprietary credit scoring system and fintech platform that evaluate borrower creditworthiness, ESG factors, and risk profiles for direct lending and credit opportunities investment decisions.

Sagitta generates revenue primarily through management fees on assets under management, supplemented by ancillary advisory services for asset management and corporate restructuring. Distribution is sales-led and exclusively domestic, targeting Italian institutional investors (insurance companies, family offices) and Italian banking institutions (for UTP portfolio contributions and fund investments) through direct engagement and partnerships with Arrow Global Group entities. Operating partners include Europa Investimenti (investment advisor and deal origination, with deep experience in Italian distressed asset acquisition) and Zenith Service (master servicing for securitization). Sagitta is a wholly-owned subsidiary of Arrow Global Group, a pan-European alternative asset manager founded by Zach Lewy and taken private in 2021 by TDR Capital through Sherwood Acquisitions Limited.

Name

Sagitta SGR

Legal name

Sagitta SGR S.p.A.

Website

https://sagittasgr.it

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Sagitta SGR S.p.A. is an Italian alternative asset manager operating closed-end funds (FIA) spanning credit opportunities, direct lending, real estate, and energy/infrastructure for institutional and professional investors, managing approximately €2.4 billion as part of Arrow Global Group.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro industry

PRIMARYFSANADAI

Middle-Market Lending

Financial & Insurance/Private Equity & Venture Capital/Private Credit / Direct Lending Funds

Keywords

• Alternative asset management
• Credit opportunities funds
• Direct lending funds
• Non-performing loans
• Special situations investing

Headquarters

HQ city

Milano

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Fund Management Fees: Sagitta SGR generates revenue through management fees charged on assets under management across its various closed-end alternative investment funds. Fees include active fees related to funds under management and potentially performance fees.
2. Investment Advisory Services: Advisory services for asset management and corporate restructuring, ancillary to core fund management business.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Sagitta SGR is an Italian alternative asset manager that promotes and manages closed-end alternative investment funds (FIA) reserved for professional and institutional investors, with approximately €2.4 billion in assets under management. The company manages four fund categories—Energy/Infrastructure, Real Estate, Credit (NPL/UTP), and Direct Lending—focused on illiquid alternative assets in special situations and non-performing contexts, supported by proprietary credit scoring and fintech technology.

Product overview

Sagitta SGR is a multi-asset and multi-strategy Italian asset management company managing approximately €2.4 billion in assets under management. The company operates as a platform managing various fund types: Fondi Energy/Infrastructure (photovoltaic plants, Greenfield development), Fondi Immobiliari (real estate value-add and special situations), Fondi di Credito (Credit Opportunities for NPLs and UTPs), and Fondi di Direct Lending. Key products include SGT ACO Direct Lending (Italy) Fund (100M), SGT ACO III Lending Umbrella (Italy) Fund, SGT ALO Umbrella Direct Lending (Italy) Fund, UTP Italia Fund (€700M+ AUM), Arrow Credit Opportunities (Italy) Feeder, Arrow Credit Opportunities II (Italy) Feeder II, SGT Sansedoni, and Aster Fund. The company also manages a diversified real estate portfolio including Navigli Towers, Donnafugata Golf Resort & Spa, Via Paradisa student accommodation, and various commercial and residential properties. Advisory services cover asset management, capital structuring, and special servicing for securitization vehicles.

Differentiator

Problem solved

Functional benefit

Products and services

• SGT ACO Direct Lending (Italy) Fund Credit FIA reserved for institutional investors that supports companies facing temporary financial difficulties during debt restructuring or recovery procedures through provision of new finance in direct financing.
• SGT ACO III Lending Umbrella (Italy) Fund Credit FIA reserved for institutional investors that supports companies facing temporary financial difficulties during debt restructuring or recovery procedures through direct financing.
• SGT ALO Umbrella Direct Lending (Italy) Fund Closed-end alternative credit fund reserved for institutional investors that provides financing to real estate operators for temporary liquidity requirements (bridge financing) or real estate development projects.
• UTP Italia Fund Innovative fund combining securitization with multi-compartment Alternative Investment Fund reserved for professional investors, specializing in managing granular Unlikely to Pay (UTP) credits from loans and financing to SMEs and families.
• Arrow Credit Opportunities (Italy) Feeder Alternative investment fund reserved to institutional investors whose assets are invested in shares of the pan-European Master fund Arrow Credit Opportunities 1, investing in performing and non-performing loans, non-core bank assets, and real estate assets.
• Arrow Credit Opportunities II (Italy) Feeder II Alternative investment fund reserved for institutional investors whose assets are invested exclusively in units of ACO2 master fund dedicated to performing loans and pan-European non-performing loans.
• Fondi Energy/Infrastructure Funds managing assets in energy and infrastructure sectors including photovoltaic plants (Core PV funds) and funds dedicated to Greenfield development.
• Fondi Immobiliari Real estate funds focused on rehabilitation of existing assets (Brownfield Development) and strategies including Reoco, Value-add, and Special Situations for acquisition and valorization of complex real estate.
• Fondi di Credito Credit Opportunities funds investing in UTP and NPL single-name credits and contribution funds, including large portfolios of impaired credits.
• Obton Italy Fund Portfolio of 94 photovoltaic plants worth over €250 million, connected to grid and operational throughout Italy with approximately 80 MWp installed capacity.
• Advisory and Other Services Asset management and advisory activities for institutional investors across credit, real estate, energy, and lending asset classes, including investment origination, capital structuring, debt arrangement, and fund/vehicle management.
• SGT ACO Umbrella Italy Fund Investment fund managing illiquid alternative assets including NPLs, UTPs, and real estate through various sub-funds.
• Special Situation Fund Fund reserved for institutional investors dedicated to investments in Italian industrial companies with solid fundamentals but temporary financial difficulties or crisis situations.

Quantifiable outcome

• AUM grew from €170 million (Dec 2020) to €1.4 billion (end 2022), representing 411% increase
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature2 records

Partnerships

Six partnerships are on record, tiered flagship, core and minor.

• Intrum ItalyflagshipStrategic or Co-development Partner · 8 November 2022Intrum Italy partnered with Sagitta SGR and Zenith Service to create UTP Italia fund, an innovative fund combining securitization with multi-compartment alternative investment fund structure for managing granular UTP credits from SMEs and families. Framework agreement signed for approximately €160 million nominal value, targeting €1.5 billion in 2023.
• Europa InvestimenticoreStrategic or Co-development PartnerEuropa Investimenti serves as the investment advisor to Sagitta SGR's funds including SGT ACO Umbrella Italy Fund. It is an Italian financial restructuring advisor with extensive experience in distressed asset acquisition and corporate turnarounds. Europa Investimenti leads deal origination and provides local Italian market expertise.
• Zenith ServicecoreStrategic or Co-development PartnerZenith Service acts as master servicer and corporate servicer for securitization transactions managed by Sagitta SGR. Part of Arrow Global Group, it is a market leader in master servicing for securitization transactions in Italy, handling SPV creation and management and regulatory activities.
• Obton GroupminorStrategic or Co-development PartnerObton Italy Fund invests in a portfolio of 94 photovoltaic plants across Italy. Sagitta manages this energy infrastructure fund as part of its Energy/Infrastructure product offering.
• Drees & SommerminorImplementation/ SI/ Consulting PartnerDrees & Sommer provides project management services for Milano4You smart district development, managing complexity across prefabrication, sustainable mobility, digitalization, and public space design.
• MAB ArquitecturaminorImplementation/ SI/ Consulting PartnerMAB Arquitectura serves as master plan architect for the Milano4You smart district project in Segrate, Milan.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• DoValue: Italy's largest NPL servicer with asset management activities on credit portfolios. Overlapping with Sagitta on UTP/NPL credit opportunities, though DoValue is more servicer-led and larger scale.
• Quaestio Capital Management: Italian alternative asset manager focused on special situations, distressed credit, and real estate. Comparable Italian platform serving institutional investors with multi-strategy alternatives.
• Prelios SGR: Italian alternative asset manager focused on NPL servicing, credit, and real estate funds. Closely mirrors Sagitta's NPL/UTP and real estate special situations mandate and Italian institutional LP base.
• Kairos Partners SGR: Italian asset management firm offering multi-strategy alternatives including private credit and special situations funds. Comparable institutional investor base and Italian alternative mandate.
• Dea Capital Real Estate SGR: Italian alternative asset manager (part of DeA Capital) operating real estate and credit opportunity funds reserved for institutional investors. Directly comparable to Sagitta's Italian SGR structure and multi-asset platform spanning credit and real estate.
• Credito Fondiario: Italian credit asset manager specializing in NPL/UTP portfolio management and securitization. Directly comparable to Sagitta's credit opportunities and securitization-led restructuring work (e.g., Samp S.p.A. ABS).

Emerging players

• Finint Investments / Finint SGR: Italian financial group with asset management activities across private debt, real estate, and NPL funds. Comparable Northern Italian alternative platform serving institutional clients.
• Anthilia Capital Partners: Italian independent asset manager offering private credit, direct lending, and special situations funds. Comparable Italian-focused alternative credit mandate, though smaller scale than Sagitta.

Broad incumbents

• Banca IFIS: Italian bank specialized in NPL purchasing, factoring, and credit management. Overlaps with Sagitta on UTP/NPL acquisition strategy and Italian distressed credit, though banking-anchored rather than fund-led.
• Arrow Global Group: Pan-European credit and real estate alternative asset manager and parent of Sagitta SGR. Operates at much larger scale across multiple jurisdictions; comparable product set but wider geographic and asset-class footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sagittasgr

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sagitta SGR