NB Aurora to float and acquire FII's portfolio

The fund expects to raise €150m in a private placement open only to institutional and professional investors, which will be able to acquire NB Aurora's shares at €10 each, with a minimum mandatory commitment of 150,000 shares. The private placement will close on 26 April and will not be followed by an IPO.

NB Aurora, which was founded in September 2017 and is based in Luxembourg, will use some of the proceeds from the private placement to acquire up to 44.5% of the Fondo Italiano d'Investimento portfolio already bought by Neuberger Berman in November 2017. The portfolio is made up of minority stakes in 21 companies with a combined turnover of €2.3bn and EBITDA of €282m, and has a total value of approximately €300m.

The remaining capital raised by NB Aurora will be deployed to acquire minority stakes in non-listed Italian companies to support their growth and internationalisation.

The listing on the Milan stock exchange is expected to be completed by May 2018.

Banca IMI, Citigroup Global Markets and Equita SIM will act as joint global coordinators and joint bookrunners.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Secondaries
• Southern Europe
• Italy
• Direct secondary
• Intention to float