Clessidra hires CEO & vice-chair after Bottinelli departure

Following the acquisition of Clessidra by Italmobiliare in May, Bottinelli has now resigned from all his positions at the firm. Bottinelli joined the firm in 2007 as a partner and was appointed as CEO in January 2016, in the wake of the death of Claudio Sposito, the firm's founder and CEO.

As part of the agreement, Clessidra appointed two new representatives: Italmobiliare adviser Mario Fera as a director and the Sposito family's lawyer Piero Alonzo as vice-chair and interim CEO, until the official closing of the acquisition, expected in September 2016.

Prior to the role, Fera joined Italmobiliare in 2009 focusing on several acquisitions, including the recent sale of portfolio company Italcementi to Heidelbergcement in July 2015. Previously, he spent 12 years in the investment banking sector working as vice-chair at Lazard and as a director at HSBC and UBS.

According to a source close to the situation, Fera is expected to take the CEO position in the firm following the official closing of the acquisition from Italmobiliare.

Recently appointed CEO and vice-chair Alonzo is a founding partner at accountancy law firm Alonzo Committeri & Partners. More recently, Alonzo worked alongside Manuela del Castillo Sposito on the sale of the family's majority stake in Clessidra.

According to press reports, Italmobiliare director Carlo Presenti will be appointed non-executive chair at the GP, while current chair Francesco Trapani, who lost the final bid to acquire a controlling stake in the firm from the Sposito family, will remain in the firm as senior adviser, as will Clessidra co-founder Giuseppe Turri.

Clessidra is expected to restart the fundraising activity for its third vehicle, Clessidra Fund III, which targets €800m and start its investment phase.

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• Clessidra Capital Partners
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