NEW YORK–(BUSINESS WIRE)–Eldridge Capital Management (“Eldridge”) today announced the full subscription of units for REC Italy Fund 1, an Italian credit alternative closed-end fund (fondo comune di investimento alternativo di tipo chiuso riservato) managed by Castello SGR S.p.A.. REC Italy Fund 1 has provided an €85 million loan to ER Office Fund 3, an Italian real estate investment fund fully subscribed by funds managed by PineBridge Benson Elliot LLP (“PineBridge Benson Elliot”) and managed