Neuberger Berman spins out Intesa SanPaolo's PE division

Neuberger Berman signed a preliminary agreement with Intesa SanPaolo to take over its portfolio in September 2014 and is understood to be developing its asset management platform in Italy.

Under the agreement, Intesa SanPaolo's merchant banking and private equity teams – led by Marco Cerrina Feroni and Fabio Canè – will remain in Milan to work on Italian activities.

Neuberger Berman's former managing director of European private equity, Stefano Bontempelli, will also be part of the team.

Cerrina Feroni, Canè and Bontempelli will take on the roles of senior partners and report to Neuberger Berman's global head of private equity, Anthony Tutrone.

Intesa SanPaolo stated it will continue to work with its former division in order to maintain an informal strategic involvement in private equity.

The deal follows a similar agreement that saw Coller Capital support the spinout of Italian mid-market player MPVenture from Monte dei Paschi di Siena bank in October 2014.

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• Topics
• Southern Europe
• GPs
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• Intesa Sanpaolo