Fondo Italiano d’Investimento: raised over 1 billion euros from funds of funds under Progetto Economia Reale
for Italian SMEs growth
Milan, 15th June 2023 – Fondo Italiano d’Investimento SGR announces that it has successfully completed the fundraising of private equity and private debt funds of funds, the investment platform of Progetto Economia Reale, exceeding the 1 billion euros mark.
The Project, promoted together with Cassa Depositi e Prestiti (CDP) and Assofondipensione with a strategic system perspective, facilitated Italian pension funds to access the private capital market to support the growth and competitiveness of Italian companies, through the FOF Private Equity Italia and FOF Private Debt Italia funds.
The placement was achieved thanks to the support of 18 pension funds, CDP and other institutional investors and will move resources of more than 6 billion euros in favour of SMEs growth, with a leverage effect of more than 6 times.
To date, funds of funds have already approved investments in 24 private equity and private debt funds, thus committing more than 80% of the available capital. The funds already in the portfolio, in turn, have made investments in about 120 companies - with aggregate revenues and EBITDA of about 11 billion and 2 billion euros - employing a total of about 67 thousand employees.
Fund of funds management is characterized by a focus on environmental, social, and governance (ESG) issues with a committmenet to promoting sustainability best practices in the funds in which they invest.
Luigi Tommasini, Senior Partner of Fondo Italiano d’Investimento commented: “Fondo Italiano wanted to make its investment expertise available to Italian pension funds to facilitate their participation in funds focused on the growth of Italian companies by combining it with consistent financial returns for their members."
Roberto Travaglino, Distribution, Investor Relations & ESG Director of Fondo Italiano d’Investimento added: “Progetto Economia Reale was created with the aim of building a dedicated and tailor-made product for Italian pension funds, enabling investments in growth projects of Italian SMEs with a focus on employment development and ESG issues. The success of the fundraising proves once again that this is a necessary initiative in the Italian economic landscape.”
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Fondo Italiano d’Investimento SGR
Fondo Italiano d’Investimento SGR was created in 2010 on the initiative of the Italian Ministry of Economy and Finance (MEF) and its shareholders include CDP Equity, Intesa Sanpaolo, UniCredit, Fondazione ENPAM, Fondazione ENPAIA, ABI, Banco BPM and BPER Banca. The main goal of Fondo Italiano is to favor the growth of the Italian economy by managing closed-ended funds. The funds managed by FII SGR are aimed at conveying patient capital to Italian companies of excellence with a return on investment in line with international benchmarks. To date, FII SGR manages a total of 15 closed-ended alternative investment funds reserved to qualified investors, for about 2.8 billion euros and operates through direct and indirect investments (funds of funds). FII SGR acts as a responsible investor and has sustainability as a core value; is thus committed to integrating environmental, social and governance (ESG) criteria into its investment criteria, processes, and activities.
For further information
Roberto Travaglino
Fondo Italiano d’Investimento SGR
+39 02 63532 208
roberto.travaglino@fondoitaliano.it
Thanai Bernardini
External press office
+39 335 7245418
me@thanai.it
Alessandro Bozzi Valenti
External press office
+39 348 0090866
alessandro.valenti@thanai.it