22 December 2020
Preliminary results for 2020 were presented to the Board of Directors:
- over 480 million Euros raised
- 4 direct investments and 9 indirect investments approved
- 370 million Euros of resources deployed
Milan, December 22nd, 2020 – The Board of Directors of Fondo Italiano d’Investimento SGR (“FII SGR” or “Fondo Italiano”), chaired by Andrea Montanino and led by the CEO Antonio Pace, met yesterday.
During the meeting, the FY2020 preliminary results of the SGR were presented. Despite the Covid-19 situation, the performance was overall positive both on the side of the new initiatives that were launched and on that of investments and fundraising.
The activities and results confirm the new course undertaken by Fondo Italiano with the “Forward 2023” Business Plan, aimed at supporting excellent companies active in selected strategic sectors in Italy leveraging on both the private and public sector activation and with a broad, courageous, and responsible vision.
During the FY2020 Fondo Italiano raised resources in excess of 480 million Euros, 350 million Euro from Cassa Depositi e Prestiti as part of “Progetto Economia Reale”, (the platform made of Funds of Funds devoted to coinvesting with Italian Pension Funds) and more than 130 million Euros raised from leading Italian banks and pension funds.
During the year, 13 investments were approved of which 4 direct investments and 9 indirect investments. As part of direct investments, Fondo Italiano Consolidamento e Crescita – FICC invested in Matcimind and Florence, while Fondo Italiano Tecnologia e Crescita – FITEC with its parallel fund Fondo Italiano Tecnologia e Crescita Lazio – FITEC Lazio entered the capital of Termo by mean of a capital increase, whilst a further transaction is being finalized, again for FITEC fund. With reference to the activities of the Funds of Funds, during the year, 7 subscriptions of private equity funds and 2 subscriptions of private debt funds were approved. Overall, the resolutions passed by the Board of Directors amounted to 370 million Euros, including 114 million Euros for direct investments and 256 million Euros for indirect investments.
In 2020 FII enhanced also its CSR activities. During the year FII launched the FII Global Academy, aimed at promoting the attention on the current economic, social and geopolitical issues with leading national and international speakers. FII also strengthened its commitment to sustainability, obtaining the highest rating (A+) by Principles for Responsible Investment (UNPRI), for the Strategy and Governance area. FII also launched the project “L’Arte del Fare” (The Art of Making) aimed at enhancing Italian genius and excellence in the field of art and supporting the restoration of a selection of drawings from Leonardo’s Codex Atlanticus.
Finally, the Fondo Italiano team was strengthened with the addition of 12 new resources.
The Board of Directors congratulated the CEO and the entire SGR team for the excellent work done.
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Fondo Italiano d’Investimento SGR
Fondo Italiano d’Investimento SGR (“Fondo Italiano” or “FII 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, Abi and Confindustria. 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 10 closed-ended investment funds reserved to qualified investors, with Assets Under Management in excess of 3 billion euros and operates both through direct investments and fund of funds’ activity.
FII SGR considers sustainability a fundamental value and is committed to integrating environmental, social and governance (ESG) criteria into its investment activities.
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Contacts:
Roberto Del Giudice
Fondo Italiano d’Investimento SGR
Tel. +39 02 63532.1
roberto.delgiudice@fondoitaliano.it
Lavinia Borea
LB Partners
Tel. +39 335 6583925
lavinia.borea@lbpartners.net