30 November, Monitor Risparmio
The funds managed by Neuberger Berman, among which there is NB Secondary Opportunities Fund IV LP, acquired all the shares of Fondo Italiano di Investimento from da Cassa Depositi e Prestiti, Intesa Sanpaolo, UniCredit, Monte dei Paschi di Siena, Nexi, Banco BPM, Banco Popolare dell’Emilia Romagna, Credito Valtellinese, Banca Popolare di Cividale, and UBI Banca.
The portfolio includes minority interests in 21 companies with an aggregate turnover of 2.3 billion euro. The management of the portfolio will be assigned to a team of 9 experts from Fondo Italiano d’ Investimento Sgr. The team will keep the usual investment approach focused on value creation over the long term in partnership with the leading entrepreneurs of various industries willing to promote development projects.
This is the second main operation in Italy for Neuberger Berman, after the acquisition of the shares portfolios of Intesa Sanpaolo in 2015. Since 2005, the Neuberger Berman private equity team has collected over 7 billion dollars destined to the secondary market.
Anthony Tutrone, managing directors and responsible for the NB Alternatives global division commented: “We’re really happy that the elements of Fondo Italiano are joining our group dedicated to private equity investments in Italy. We’re focused on closing partnerships with medium-sized companies. We believe that there are many good entrepreneurs and industry leaders in Italy, that will be able to start an internationalisation process and speed up their growth thanks to our global network and our capital”.
Neuberger Berman was assisted for the legal part by the lawyers Gianni Martoglia, Giorgio Groppi e Alessandra Ghezzi from the legal firm Gatti Pavesi Bianchi, together with Christian Neira, Neuberger Berman general consultant for the private equity division and Jagdip Gujral, associated general consultant.
Source: Monitor Risparmio
Translator: Cristina Ambrosi