Springrowth SGR, a wholly-owned subsidiary of Muzinich & Co Ltd., has announced the first close of the Diversified Enterprises Credit Fund (“DECF”), the first parallel lending vehicle to be launched in Italy.

But what is safe? Is it the AAA or AA rating provided by rating agencies such as S&P and Moody's? Does “safe” equal goodwill bonds issued by sovereign countries such as France, Japan, the United Kingdom or the United States? Perhaps…