Sagitta SGR
Italian asset management company of the Arrow Global group (alongside Europa Investimenti and Borio Mangiarotti) Arrow Global Group
Also known as Sagitta SGR S.p.A., SAGITTA SGR S.P.A., Vegagest SGR, VEGAGEST SGR S.P.A.
Milan alternative SGR of the Arrow Global group (ex Vegagest, relaunched 2019); NPL/UTP, turnaround lending, real estate and solar funds for institutions; €2.6bn AUM (2025).
- HEADQUARTERS
- Milan, Italy
- FOUNDED
- —
- AUM
- €2.6B (2025)
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 10 people
FOCUS
- STAGES
- Buyout
- ASSET MIX
- Private creditReal estate
- GEOGRAPHY
- Italy
WHAT IT IS
Private Equity Fund. A fund manager investing limited-partner capital into mature private companies.
ABOUT
Sagitta SGR is the Italian asset management company of Arrow Global, a European alternative manager in credit, real estate and lending. Formerly Vegagest SGR, it was renamed and relaunched in 2019 and is an above-threshold AIFM managing reserved funds for institutional investors in non-performing and UTP loans (including contribution funds such as UTP Italia with Intrum), new-money direct lending to companies in restructuring, real estate and photovoltaic plants, with Europa Investimenti acting as adviser to Arrow's funds. In corporate turnarounds its funds have bought bank debt and converted part into equity, as at the construction group Rizzani de Eccher in 2024. Total AUM was €2.6bn including residual commitments at end-2025, with about €1.6bn invested.
INVESTMENT THESIS
Illiquid alternative assets in Italy: single-name and portfolio UTP/NPL credit, contribution funds for banks' UTP exposures, new finance to companies in restructuring or insolvency procedures (SGT ACO Direct Lending), real-estate bridge and development lending, value-add and special-situation real estate, and core solar infrastructure.
PORTFOLIO (4)
- Rizzani de EccherNOTABLEIndustrial & Manufacturing · since 2024
- Gruppo D'Andrea&D'AndreaReal Estate & PropTech · since 2022
- SampIndustrial & Manufacturing · since 2023
- Donnafugata Golf Resort & SPAReal Estate & PropTech · since 2025
TEAM
- Claudio NardoneCEO and CIO · source
- Paola BorracchiniChief Operating Officer · source
- Rosaria BarchiesiChief Financial Officer · source
- Roberto RondelliHead of Going Concern Strategy · source
- Riccardo PaulottoFund Manager, Direct Lending & Structured Finance Senior Director · source
- Luca FaggellaFund Manager – Credit, Contribution Funds · source
- Luca BestettiFund Manager – Energy & Infrastructure, Real Estate · source
- Sara MarchesiFund Manager – Real Estate · source
- Giuseppe SemeraroOrigination, Fund Solution Senior Director · source
- Bernardo AttolicoChairman (appointed Jul 2025) · source
LINKS
FAQ
Sagitta SGR is a private equity fund based in Milan, Italy.
Yes. Sagitta SGR invests directly in private companies.
Sagitta SGR invests at Buyout stage in Real Estate & PropTech, Industrial & Manufacturing and Climate & Energy.
Key people at Sagitta SGR include Claudio Nardone (CEO and CIO), Paola Borracchini (Chief Operating Officer), Rosaria Barchiesi (Chief Financial Officer) and Roberto Rondelli (Head of Going Concern Strategy).
Sagitta SGR's investments include Rizzani de Eccher, Gruppo D'Andrea&D'Andrea, Samp and Donnafugata Golf Resort & SPA.
The most recent publicly reported investment by Sagitta SGR is Donnafugata Golf Resort & SPA (Acquisition (value-add real estate fund; hospitality, with Mangia's)), announced in Dec 2025.
Yes. Sagitta SGR manages capital from outside investors.