Milan, May 20th, 2021– The Board of Directors of Fondo Italiano d’Investimento SGR (“FII SGR” or “Fondo Italiano”) met yesterday, chaired by Andrea Montanino and led by the CEO Antonio Pace.
The Board of Directors approved 2 new investments of FOF Private Equity Italia (“FOF PE Italia”) and FOF Private Debt Italia (“FOF PD Italia”), for a total commitment of 75 million euros, thus raising the number of total investments of the two FOFs up to 14, for a total capital commitment of 411 million euros.
The two funds of funds are both devoted to supporting the sustainable growth of the Italian companies and boast a current total commitment respectively of about 350 million euros (FOF PE Italia) and 300 million euros (FOF PD Italia), of which 550 million euros raised from Cassa Depositi e Prestiti, as cornerstone investor and, for the remaining part, from some Italian Pension funds such as Arco, Laborfonds, Pegaso and Byblos.
With reference to FOF PE Italia, thanks to these new resolutions the subscriptions already approved by the Board of Directors (approximately 82% of the current commitment) rise to 10, for a total amount of over 280 million euros. As of April 30th, 2021, the 7 portfolio funds involve 19 companies with an aggregate turnover of approximately 500 million euros, an EBITDA of approximately 110 million euros, and a total number of employees of over 1,800.
As for FOF PD Italia, instead, 4 investments have been approved, for a total amount of 130 million euros (about 45% of the current commitment). As of April 30th, 2021, the 3 portfolio funds involve 22 companies with an aggregate turnover of over 2 billion euros, an EBITDA of 300 million euros and a total number of employees of almost 32,000.
Thanks to all its activities, Fondo Italiano continues to pursue its commitment to the achievement of the Sustainable Development Goals promoted by the United Nations (“SDGs”), including the goals number 8 on “Decent work and economic growth”, number 9 on “Enterprise, innovation and infrastructure” and number 17 on “Partnership for the goals”.
