Alto Partners holds €103.5m first close for fourth fund

Amedeo Goria
10 April 2017

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Italian mid-market private equity firm Alto Partners has held a €103.5m first close for its fourth fund, Alto Capital IV.

After launching the vehicle at the beginning of 2017, the GP aims to conclude it fundraising by the end of the year. According to a statement, the GP manages its fundraising activity in-house.

The private equity firm is owned by its management team, while the Gerardo Braggiotti and Spinola family offices, alongside entrepreneur Daniele Selleri, own a minority stake.

At the time of publication, the GP had 23 portfolio companies under management worth an aggregate €230m.

Investors
According to a statement, the GP raised commitments from 42 LPs, 50% of which had already committed capital to the fund's predecessors, Alto Capital II and Alto Capital III. Half of the institutional investors participating in the fundraising are based in Italy. More than a third (35%) of the LPs are family offices and high-net-worth individuals.

Investments
As was the case for its predecessors, the new vehicle focuses on majority and minority acquisitions in companies mainly headquartered in the north of Italy. It mainly targets business operating in the luxury, food, design, industrial and services sectors with revenues within the €20-80m bracket.

People
Alto Partners – Stefano Scarpis (chair, founding partner); Raffaele de Courten (founding partner, director); Mario Visioni (partner).