Green Arrow acquires Quadrivio

Financial details of the transaction remain undisclosed, though in October, local reports put the expected acquisition price at around €20m.

The bidding process involved 20 potential buyers, according to a statement, with a shortlist of four buyers drawn up in October. In addition to Green Arrow, the shortlist included LBO France, PM Partners and Tages.

At the time of the shortlist being revealed, it was understood that a stake of 70% in the GP was up for sale, with the remaining 30% owned by Fondazione Cariplo's holding vehicle FuturaInvest excluded from the process.

Quadrivio, which has a portfolio spanning buyouts, venture, funds-of-funds and infrastructure, currently has €1.4bn in assets under management. In April 2017, the firm appointed Adalberto Alberici and Francesco Ceci as new chair and CEO, respectively. The announcement followed a specific request from Banca d'Italia to separate shareholders and managers within all investment firms with more than €500m of assets under management.

The GP recently held a €200m interim close for its third private equity fund, Quadrivio Private Equity Fund 3, which is expected to reach its €250-300m target by the end of 2017. The fund manager also recently held a €120m first closing for its maiden private debt vehicle, Quadrivio Private Debt, and a €100m final close for its vehicle dedicated to clean energy and infrastructure.

Green Arrow was founded in 2012 by a consortium of entrepreneurs including Eugenio de Blasio, Daniele Camponeschi, Stefano Russo and Francesco Giovannini. The consortium was joined by Luisa Todini at the end of 2016, who became a partner and shareholder in the firm.

The investment forms part of Green Arrows' plans to diversify its portfolio of alternative assets across Europe. The firm currently has operations in Europe, the Middle East and the Americas.

The acquisition is subject to regulatory approval from the Bank of Italy.

Lazard acted as financial adviser to Quadrivio, while Pedersoli provided legal advice. Rothschild acted as financial adviser to Green Arrow, with KPMG providing auditing, and legal and regulatory consulting provided by Legislab and Orrick.

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• Topics
• GPs
• Southern Europe
• Italy
• Quadrivio