ICF II fund-of-funds reaches EUR150m first close

Fund

IDeA Capital Funds has held a first close on EUR150m for its ICF II fund-of-funds. The Italy-based vehicle has a EUR300m target and a 7+3 lifespan. It was launched in March 2009. IDeA Capital Funds, created by the DeAgostini Group, already operates a EUR680m fund-of-funds and a EUR250m co-investment fund.

Investors

The fund is currently subscribed to by two domestic institutional investors.

Investments

ICF II will back fund managers in the mid-market segment. With its EUR300m target, the new vehicle marks a shift in strategy from IDeAs's larger funds, raised every three to four years. The plan going forward is to raise smaller funds, targeting EUR300m every 18-24 months. The fund will act opportunistically in the primary and secondary market as well as increase its allocation to emerging markets to up to one third of the fund.

People

The fund is managed by Franco Mosca, who is supported by a team of six professionals.

Name: ICF II

Launched on: March 2009

First close: EUR150m

June 09

Focus: Primary/secondary fund-of-funds, global

Contact: Franco Mosca

Address: IDeA Alternative Investments SpA

Via dell'Annunciata 23/4

20121 Milan

Italy

Tel: +39 02 2906 631.

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