Mercury raising for Savills IM's Italian retail fund

Conad Italy

Savills IM has added €183m of assets to its sale-and-leaseback investment vehicle for Italian retailer Conad, the Mercury Fund.

Investors in the fund include three subsidiaries of Conad, the largest consortium of independent retailers in Italy (Conad Adriatico, Conad Centro Nord and Conad Tirreno), and Gruppo Cattolica Assicurazioni, an Italian leading insurance company.

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