Apr
11

Italy Forms $5.7 Billion Fund to End Doubts About Banking System

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  • Fund to help weakened banks sell shares and unload bad loans
  • Atlante fund managed by Quaestio Capital investment firm

Italian officials and financial firms agreed to create a multibillion-euro fund to help weakened banks raise capital and unload bad loans, as the nation tries to assuage investor jitters and avert a crisis.

The new fund, named Atlante, will be supported by numerous institutions, its manager, Quaestio Capital Management SGR, said late Monday after more than a week of meetings among banks, insurers and state lender Cassa Depositi e Prestiti. The fund may be worth about 5 billion euros ($5.7 billion), said Banca Popolare dell’Emilia Romagna Scarl Chief Executive Officer Alessandro Vandelli, speaking on the sidelines of the meeting…

Italy Forms $5.7 Billion Fund to End Doubts About Banking System

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