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Clifford Chance

Clifford Chance


Alternative financing sources: EU and Italian 'funds' now allowed to engage in direct lending to Italian businesses.

17 February 2016

On 16 February 2016, a set of Italian Government measures became effective following the publication of the long awaited Law Decree no. 18 of 14 February 2016 (the "Decree"). In particular these measures cover the disposal of non-performing loans by Italian banks (on which see our Briefing Note "Public State guarantee to secure securitisations of non-performing loan receivables: the Italian "bad bank" solution?"), and provide new rules outlining for the first time the ability of Italian alternative investment funds (AIFs) and EU AIFs, subject to certain conditions, to engage in direct lending in Italy.

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