Banca Promos launches Southern Italy-focused fund

Banca Promos has launched Promo Equity Sud, a EUR50m fund targeted at small-cap investments in Southern Italy. It is understood that the fund will invest EUR1-4.5m to acquire minority positions in companies with a turnover of EUR6-8m.

Promos Equity Sud is expected to close around 10-15 transactions in the next five years. The regional focus is the region of Campania - since the managers are based in Naples - however, opportunities in Sicily and Puglia will also be considered. More details will follow in the next edition of Southern Europe unquote".

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