IDeA II fund-of-funds reaches EUR150m first close

01 July 2009

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Fund

IDeA Capital Funds has held a first close on EUR150m for ICF II fund-of-funds. The Italy-based vehicle has a EUR300m target and a 7+3 lifespan. It was launched in March 09.

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. Furthermore, the fund will act opportunistically in the primary and secondary market as well as increase its allocations for 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. IDeA Capital Funds, created by the DeAgostini Group, already operates a EUR680m fund-of-funds and a EUR250m co-investment fund.

Name: ICF II

Launched on: March 2009

Target: EUR300m

First closing: EUR150m, Mar 2009

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.