Solidarietà Veneto invests €10m in Alcedo IV

Amedeo Goria
18 April 2016

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Italian pension fund Solidarietà Veneto has committed €10m to the Alcedo IV fund, managed by Treviso-based GP Alcedo.

According to unquote", Alcedo was expecting a final close for its fourth vehicle in March 2016. A source close to the situation stated the fund will reach final close following the investment of Solidarietà Veneto.

Alcedo IV was launched in September 2015 with a €175m target and a €200m hard-cap. According to press reports, the vehicle has raised €176m of commitments to date, exceeding the original target.

Italian pension fund Solidarietà Veneto aims to invest in SME-focused private equity vehicles based in the Italian region of Veneto.

According to a statement, Solidarietà Veneto will continue to diversify its investment portfolio allocation. The fund intends to invest €60m in private equity as well as €40m in private debt investments, with the aim of reaching €1bn of assets under management.

Prior to the investment, the Italian pension fund committed €7m to Fondo Sviluppo PMI in February 2015, a fund managed by Italian GP Friulia Veneto Sviluppo. In June 2015, it committed €7m to Fondo APE III, managed by Assietta Private Equity.