Fondo Italiano commits €85m to 3 Italian private debt funds

According to a statement, FII has committed capital via its fund Fondo di Fondi FoF Private Debt to three Italian private debt vehicles: Ver Capital Credit Partners Italia V, Muzinich Italian Private Debt Fund and Quadrivio Private Debt.

Following the transaction, FII's private debt fund-of-funds will have nine vehicles in its portfolio and will have committed a total of €265m.

Ver Capital Credit Partners Italia V is a closed-ended fund managed by Ver Capital, an Italian GP focused on the direct lending market. Its fifth vehicle focuses on senior secured bonds and loans across the Italian market. After a first closing on €50m reached in August 2016, the GP expects to hold a second close by the end of the year, according to a statement.

Following a first close on €156m in April 2014, the New York-based asset management firm Muzinich has held a final close on €286m for its Italy-focused vehicle, Muzinich Italian Private Debt Fund. The vehicle targets Italian mid-cap companies with senior secured and unsecured subordinated loans.

Lastly, Quadrivio Private Debt is the first direct lending vehicle of the Italian GP, Quadrivio. Following the announcement, the vehicle hit a first closing on €120m. According to a statement, it has a €250m target and will mainly invest in senior secured and unitranche debt facilities, but the fund managers will consider acquiring debt packages on the secondary market as well. The fund received capital commitment from FII, alongside other institutional investors, including pension funds, insurance funds and family offices.

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• Topics
• LPs
• Southern Europe
• Italy
• Fondo Italiano di Investimento
• Quadrivio