Milan, April 8, 2022 – 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 today.
During the meeting, the BoD approved a new capital increase in Gruppo Florence, the first integrated production hub in Italy at the service of luxury fashion, participated by Fondo Italiano Consolidamento e Crescita – FICC, to continue supporting its growth process. Since FICC’s investment, which took place in November 2020 through the aggregation of the first three companies, the Group has been able to strengthen its role as the first Italian industrial hub in the luxury clothing sector, aggregating ten companies for a 2021 consolidated turnover of approximately €150 million. The injection of new capitals is aimed at pursuing further M&A activities with the objective of completing the products offering of Gruppo Florence, thus strengthening one of the most important supply chains of Made in Italy.
As part of the fund of funds activity, two new investments were approved that will contribute to the further development of the private capital market and of management companies with multi-strategy platforms and significant size: one in the private equity fund Algebris Green Transition Fund, managed by Algebris Investments Limited, dedicated to fostering the energy transition process in Italy, and the other in the private debt fund Green Arrow Private Debt II, managed by Green Arrow Capital SGR. Thanks to these two new commitments, the total commitments approved for the funds of funds currently in the investment phase rise to over €440 million, for the 13 investments in private equity and almost €250 million, for the 7 investments in private debt.
These two funds, together with those already part of the funds of funds’ portfolios, all share a strong focus on ESG issues and sustainable investments, in line with the Responsible Finance Policy adopted by Fondo Italiano d’Investimento.
