Il Fondo Investimenti per il Turismo (FIT) was founded by CDP Real Asset SGR S.p.A. on 30 October 2014.
FIT became operational on 1 July 2016.
Type: alternative closed-end property investment fund reserved for professional investors pursuant to Art. 6, paragraphs 2-quinquies and 2-sexies, of the Consolidated Law on Finance and the related implementation decrees, as well as to non-professional investors who can subscribe to units of reserved funds pursuant to Art. 14, paragraph 2, of the Ministry of Economy and Finance Decree of 5 March 2017 No. 30.
Mission: property investments, both direct and through investment in other property collective investment undertakings, in the tourism, hotel, accommodation business in general and leisure activities.
Amount subscribed: €250 million
Duration: 20 years, plus a possible extension not exceeding five years, to which three years may be added if, in consideration of the characteristics of the market or the characteristics and composition of the portfolio under management, it is not possible to complete the liquidation of the investments within the natural FIT expiry date.
Scope of action: mainly assets located in the Italian Republic.