Fondo Italiano d’Investimento reorganises FII

Until now, FII was managing three funds. The first vehicle, FII, launched in 2010, which targeted Italian SMEs as well as investment in Italian private equity and venture capital vehicles. The fund has raised €1.2bn to date.

In 2014, the GP launched two funds-of-funds, the €40m private debt investment vehicle FoF Private Debt, and the €80m venture capital fund-of-funds FoF Venture Capital.

Now, FII investors have approved the splitting of the FII fund in three investment vehicles: Fondo Italiano di Investimento, which will invest in Italian SMEs, Fondo Italiano di Investimento Fondo di Fondi, which focuses on investing in private equity funds, and Fondo Italiano di Investimento FII Venture, which targets investments in venture capital funds. The change results in the GP managing five vehicles.

According to the firm, the restructuring aims to simplify the fundraising and divestment processes and reduce the risk for the investors.

FII is backed by Cassa Depositi e Prestiti, the Italian bank association (Abi), Confindustria, Italy's Ministry of Economy and Finance, Intesa Sanpaolo, Unicredit, MPS and ICBPI. Each investor retains the same stake in the new setup, 12.5%.

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• Topics
• GPs
• Southern Europe
• Italy
• Fondo Italiano di Investimento