Muzinich European Loans 4 ELTIF SICAV, S.A.

Muzinich European Loans 4 ELTIF SICAV, S.A. is a closed-end ELTIF launched by Muzinich & Co in 2021 and structured as a SICAV domiciled in Luxembourg, where it operates under the UCI Part II regime. The vehicle is built under the ELTIF 1.0 framework, which predates the later recalibration of the ELTIF rules and is associated with a narrower eligible-investor funnel and tighter marketing conditions than vehicles written under the revised regime; distribution here is domestic, while the stated minimum ticket of 10,000 EUR in the EUR base currency opens the structure to both retail and professional subscribers who meet the applicable suitability tests.

Mechanically, the fund behaves as a drawdown-style private credit vehicle rather than an evergreen one: capital is committed into a direct lending book within private debt, and there is no standing redemption window, so liquidity before the end of the fund's life depends on secondary transfer rather than on dealing with the fund. Valuation is struck at a monthly cadence, which gives holders more frequent marks than the subscription and redemption terms would imply and supports periodic reporting rather than trading. Fees are set through a management charge alongside a carried arrangement, both of which sit within the ranges observable across the private debt cohort on this page. Current assets stand at , and the underlying exposure is allocated across Europe as shown in .

In peer terms, the fund is one of 148 private debt vehicles tracked across the full universe of 494 funds, one of 347 domiciled in Luxembourg, and one of 108 that combine both characteristics, so the structure sits in the most densely populated segment of the dataset. It is classified Article 6 under SFDR, meaning no sustainability objective or promotion is claimed, and carries a summary risk indicator of 2, at the lower end of the scale used in the key information document, which reflects the senior secured orientation of the loan book and the absence of in-life redemption rights rather than an assessment of credit outcomes. Figures reflect data as of 30 Jun 2026.