FONDO ITALIANO D’INVESTIMENTO SGR ANNOUNCES THE FIRST CLOSING OF ITS NEW FUND OF FUNDS FOF IMPACT INVESTING
Milan, November 22nd, 2022 - Fondo Italiano d’Investimento SGR announces the first closing of FOF Impact Investing, securing 50 million euros of commitment from CDP Equity, out of a 120 million euros target size; the fundraising period will stay open until June 2024.
FOF Impact Investing is the first fund of funds in Italy focused on the Italian Impact Investing market, aimed at developing this sustainable investment strategy, which enables the generation of a positive, intentional, and measurable social and environmental impact; together with financial returns for investors. This market is currently on its early stages in our country, whilst in the resto of Europe it already has a significant size and is experiencing extremely remarkable growth rates, thus attracting an increasing number of institutional investors.
The Fund’s investment strategy is focused - either indirectly by way of funds or, in a minority part, directly in co-investment - on companies based in Italy; however, FOF Impact may also invest in European funds, in order to attract international expertise and investment to the Italian market.
FOF Impact Investing qualifies as art. 9 of the SFDR and will only invest in funds with the same qualification, an absolute innovation in the Italian private capital space. The Fund's sustainable investment objective is, indeed, to contribute to the Sustainable Development Goals (SDGs) defined in the 2030 Agenda.
Davide Bertone, CEO of Fondo Italiano d’Investimento SGR, stated: “This initiative aims to fill a gap in the Italian private capital ecosystem by accelerating the emergence of a new asset class for our country, as successfully done in the past by Private Equity and, more recently, Private Debt Funds of Funds of Fondo Italiano.”
Luigi Tommasini, Senior Partner of the funds of funds area of Fondo Italiano d’Investimento SGR, added: “We are extremely proud of the launch of this product, which will create a new market for the Italian private capital, and which represents for Fondo Italiano a great challenge, but, above all, an opportunity to promote ESG issues, which are gaining an increasing importance within the investment decisions.”
FOF Impact Investing, adds up to the 6 funds of funds currently managed by Fondo Italiano d'Investimento SGR, with a total allocation of €1.8 billion, that have invested in 48 funds that, in turn, have invested in more than 360 companies with a total turnover of over 15 billion euros.
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 12 closed-ended alternative investment funds reserved to qualified investors, for about 2.7 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:
Fondo Italiano d’Investimento SGR
Roberto Travaglino
Fondo Italiano d’Investimento SGR
+39 02 63532 208
roberto.travaglino@fondoitaliano.it
Thanai Bernardini
Ufficio stampa esterno
+39 335 7245418
me@thanai.it
Alessandro Bozzi Valenti
Ufficio stampa esterno
+39 348 0090866
alessandro.valenti@thanai.it