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Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 10 SOURCES

Fürstenberg SGR

Wholly owned by illimity Bank S.p.A., part of the Banca Ifis group and subject to Banca Ifis direction and coordination Banca Ifis S.p.A. (via illimity Bank S.p.A.)

Also known as Fürstenberg Società di Gestione del Risparmio S.p.A., FÜRSTENBERG SOCIETÀ DI GESTIONE DEL RISPARMIO S.P.A., illimity SGR, Illimity SGR S.p.A., Furstenberg SGR

Milan alternative-investment SGR of the Banca Ifis group (formerly illimity SGR, renamed Dec 2025); turnaround, UTP/real-estate credit and private-debt funds for Italian SMEs; ~€700m AUM (Jun 2025).

HEADQUARTERS
Milan, Italy
FOUNDED
—
AUM
€700M (2025)
OUTSIDE CAPITAL
Yes
TEAM LISTED
9 people

Focus

STAGES
GrowthBuyout
SECTORS
Industrial & ManufacturingConsumer & E-commerceFood & AgricultureReal Estate & PropTech
ASSET MIX
Private creditPrivate equity
GEOGRAPHY
Italy

Overview

Fürstenberg SGR is the asset management company of the Banca Ifis group specialised in alternative investment funds for Italian SMEs, investing in credit, hybrid instruments and equity. It was set up as illimity SGR within the illimity group and was renamed Fürstenberg SGR on 18 December 2025, after illimity Bank became part of the Banca Ifis group. It manages three main funds: illimity Credit & Corporate Turnaround (iCCT), illimity Real Estate Credit (iREC) and illimity Selective Credit (iSC). It reported about €700m of assets under management at 30 June 2025.

Investment thesis

Special situations and private debt for Italian SMEs: buying stage 2/UTP loans from banks and leasing companies and supporting turnarounds with new money and equity or semi-equity (iCCT), real-estate-backed distressed credit (iREC), and senior to subordinated or quasi-equity financing for performing unlisted SMEs (iSC, Article 8, PIR-alternative compliant).

PORTFOLIO (5)

  • NoberascoNOTABLE
    Food & Agriculture · since 2024
  • Gruppo Omnia Technologies
    Industrial & Manufacturing · since 2023
  • Gruppo Varvel
    Industrial & Manufacturing · since 2023
  • Nespoli
    Consumer & E-commerce · since 2022
  • Schneider
    Industrial & Manufacturing · since 2022

People

  • Paola Tondelli
    CEO · source
  • Ernesto Fürstenberg Fassio
    Chairman · source
  • Pietro Diana
    Managing Director · source
  • Luca Mattei Gentili
    Managing Director · source
  • Furio Di Maria
    Managing Director · source
  • Francesco Piovanelli
    Managing Director · source
  • Francesca Fiorini
    Managing Director · source
  • Ivano Di Martino
    Director · source
  • Vincenza Caporale
    Head of Operations & Administration · source

Links

Frequently asked questions

Fürstenberg SGR is a private equity fund based in Milan, Italy.

Yes. Fürstenberg SGR invests its own capital in private companies.

Fürstenberg SGR invests at Growth and Buyout stages in Industrial & Manufacturing, Consumer & E-commerce, Food & Agriculture and Real Estate & PropTech.

Key people at Fürstenberg SGR include Paola Tondelli (CEO), Ernesto Fürstenberg Fassio (Chairman), Pietro Diana (Managing Director) and Luca Mattei Gentili (Managing Director).

Fürstenberg SGR's investments include Noberasco, Gruppo Omnia Technologies, Gruppo Varvel, Nespoli and Schneider.

The most recent publicly reported investment by Fürstenberg SGR is Noberasco (Majority stake (iCCT fund; turnaround, Noberasco family stays as minority shareholder)), announced in Feb 2026.

Yes. Fürstenberg SGR manages capital from outside investors.