Opinion

Video: AIFI's Innocenzo Cipolletta

Source: Southern Europe unquote | 06 Dec 2012 | screening image
Loading the player ...

unquote's Amy King speaks to AIFI president Innocenzo Cipolletta about the difficulties and opportunities in the Italian private equity market.

State-backed funds have really anchored a tumultuous indigenous market this year, and it looks like they are set to stay. "Like in other European countries, state-backed funds play an important role in this difficult moment," Cipolletta highlights. "And with a duration of 15 years, I think this will continue to play an important role."

With the majority of GPs in the audience at the unquote" Italia private equity congress in Milan citing state funds as their main competition next year, and previous concerns highlighted over an uneven playing field, these vehicles continue to spark debate.

But government funds are, of course, necessary in such economic conditions. And the government's efforts are helping to level out dealflow across the country, with a rising number of deals in Southern Italy particularly within the venture scene. While this shift has largely been welcomed, will it continue? "I think and I hope so," explains Cipolletta. "And some private funds have invested in the south of Italy, where there are good universities, and I think this trend will continue."

Turning to next year, optimism fades a little. "I think we will have a very modest recovery after this year's recession," Cipolletta suggests. "I think the main problem [for the private equity industry] will remain fundraising, particularly foreign fundraising because the euro crisis has provoked the separation of capital markets and the inflow of capital into markets under attack, like Italy, stopped and we have a problem fundraising." For the staggering 96% of GPs in the audience who revealed their intention to hit the fundraising road soon, the road could be rocky.

 

 

Visitor Comments

 

Add your comment

We won't publish your address
By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication.

search unquote.com

Industry news

HIG credit arm appoints director

New hire joins from Banca IMI, where he was director

Southern Europe unquote

| 23 Oct 2014 | secure

KPMG promotes three

Two take over role previously carried out by Richard Clarke

UK unquote

| 23 Oct 2014 | secure

Balderton hires Debock as principal

Balderton hires Debock as principal

Balderton increases focus on France through appointment of Debock

France unquote

| 23 Oct 2014 | secure

Duff & Phelps recruits two MDs in London office

Newby and Mahalingham appointed to transfer pricing practice

UK unquote

| 23 Oct 2014 | secure

Regions

Event

event

unquote" Italia Private Equity Forum

Date: 12 Nov 2014

Location: Milan, Italy

event

Forum unquote” Italia sul Private Equity

Date: 12 Nov 2014

Location: Milan, Italy

Updating your subscription status Loading

People

Nicolas Debock of Balderton Capital

Nicolas Debock, Balderton Capital

Balderton increases focus on France through appointment of Debock

More people news

Paul Skipworth of L Capital

Paul Skipworth to lead London office

More people news

Stephen Delaney of Bowmark Capital

Stephen Delaney, Bowmark Capital

New investment director Delaney previously Darwin Private Equity principal

More people news

Jake Warman of Sovereign Capital

Jake Warman, Sovereign Capital

Appointments follow firm's £395m fund close in August

More people news

Frederic Devos of Macquarie

Frédéric Devos, Macquarie Capital

New hire specialises in utilities and infrastructure

More people news

Events

event

unquote" Italia Private Equity Forum

Date: 12 Nov 2014
Location: Milan, Italy
event

Forum unquote” Italia sul Private Equity

Date: 12 Nov 2014
Location: Milan, Italy

Email Alerts