Milan, 17th June 2020 – Yesterday was held the Board of Directors of Fondo Italiano d’Investimento SGR, chaired by Andrea Montanino and led by the CEO Antonio Pace.
During the meeting, a number of technical amendments to the Regulation of the direct fund Innovazione e Sviluppo, aimed at further improving its operation, were approved. In this context, the names of the two direct funds have also been changed, with the aim of an alignment with their respective investment strategies. They have been renamed, the first, Fondo Italiano Consolidamento e Crescita – FICC and the second Fondo Italiano Tecnologia e Crescita – FITeC. Together with Fondo Italiano di Minoranze per la Crescita (FIMiC) – launched at the previous Board of Directors meeting – the three funds share the objective of acting as instruments to support the growth of companies with ambitious development projects.
Fondo Italiano Consolidamento e Crescita – FICC, with a current size of 370 million euros, of which 275 million subscribed by CDP as cornerstone investor, is dedicated to investments aimed at promoting sector or industry consolidation operations in Italian sectors of excellence. The Fund now has in its portfolio Marval, a company active in the field of precision machining for the heavy-duty industry, and Fonderie di Montorso, a leading Italian company in the manufacturing of iron casted precision components for hydraulics and complex mechanics. As part of the activities of Marval, a new engineering business unit dedicated to research and development, called “Marval Engineering”, was recently created while signing a technical-commercial agreement with Metatron for the development of natural gas traction systems for heavy duty vehicles with reduced environmental impact. The agreement, supported by Fondo Italiano d’Investimento, shows the growing attention of the Fund and its portfolio companies to sustainability issues (ESG).
Fondo Italiano Tecnologia e Crescita – FITeC, with a current size of 123 million euros (also considering the parallel fund dedicated to companies based in the Lazio Region), of which 75 million subscribed by CDP, focuses on minority investments in high-tech companies. The portfolio of the Fund currently has participations in Supermercato24, BeMyEye, Seco and Healthware. With regard to Healthware, the Company has recently completed the acquisition of Pharmaphorum, an online publication and competence centre dedicated to the healthcare world, based in the UK. The agreement signals the fruitful collaboration between the two companies in providing the best services in the digital transformation of healthcare. This result further confirms Fondo Italiano d’Investimento’s support for the international expansion of distinguished Italian companies.
The new regulations will have to be submitted to the investors of the funds for approval before they become operational.
Fondo Italiano d’Investimento SGR modifies the names of the funds Innovazione e Sviluppo and FII Tech Growth with Fondo Italiano Consolidamento e Crescita – FICC and Fondo Italiano Tecnologia e Crescita – FITeC
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Fondo Italiano d’Investimento SGR
Founded in 2010 at the initiative of the Ministry of Economy and Finance (MEF) and participated by CDP Equity, Intesa Sanpaolo, UniCredit, ENPAM Foundation, ENPAIA Foundation, ABI, Banco BPM, and BPER Banca, Fondo Italiano d’Investimento SGR's main objective is to manage closed-end mutual funds aimed at channelling capital towards the system of excellent Italian companies, combining the goal of return on invested capital in line with international benchmarks with that of fostering the growth of the Italian productive system. Fondo Italiano manages 21 closed-end mutual funds reserved for qualified investors, totalling over Euro 4 billion of capital under management, and operates through direct and indirect investments (fund of funds). Fondo Italiano considers sustainability a fundamental value and is committed to integrating environmental, social, and governance (ESG) criteria into its investment activities.
For further information
Roberto Travaglino
Fondo Italiano d’Investimento SGR
+39 02 63532 208
roberto.travaglino@fondoitaliano.it