Clessidra appoints L Catterton's Ottaviano as head of PE

Prior to joining Clessidra, Ottaviano spent 11 years at L Catterton Europe as managing partner.

Ottaviano started his career at Mediobanca in 1998 and became director for corporate finance the following year. Subsequently, he worked at Merrill Lynch as vice-president and at Sofipa Private Equity as managing partner and CEO until 2008.

Established in 2003, Clessidra is part of Italmobiliare, an Italian investment holding company controlled by the Pesenti family. The firm has completed 23 investments and 17 bolt-ons so far, and is currently deploying its third buyout fund, Clessidra Capital Partners III, which held a final close on €607.3m in December 2016.

In addition, the firm held a €320m first close for a restructuring fund dedicated to bank credit, with a special focus on unlikely-to-pay exposures, in September 2019.

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