Quadrivio attracts four bidders

Following several months on the market, the GP is understood to have selected a shortlist of four buyers: private equity houses LBO France and PM Partners, asset manager Tages, and renewables investment boutique Green Arrow Capital.

The takeover opportunity is understood to comprise a 70% stake in the GP, which is currently held by its previous chairperson Alessandro Biniello and CEO Walter Ricciotti. Local reports put the expected acquisition price at around €20m. Quadrivio was not available for comment at the time of publication.

The remaining 30% stake is owned by Italian foundation Fondazione Cariplo through its holding vehicle FuturaInvest and it is understood to be excluded from the negotiations.

According to local press reports, the GP received nine acquisition offers in the last month. Besides the remaining four players, bidders included financial investors Mittel, Tikehau Capital, DeA Capital Alternative Funds (formerly Idea Capital Funds) and VRM Group.

Quadrivio currently has €1.4bn in assets under management. In April 2017, the firm appointed Adalberto Alberici and Francesco Ceci as new chair and CEO, respectively. The announcement followed a specific request from Banca d'Italia to separate shareholders and managers within all investment firms with more than €500m of assets under management.

The GP recently held a €200m interim close for its third private equity fund, Quadrivio Private Equity Fund 3, which is expected to reach its €250-300m target by the end of 2017. Furthermore, the fund manager held a €120m first closing for its maiden private debt vehicle, Quadrivio Private Debt, and a €100m final close for its clean energy- and infrastructure-dedicated vehicle.

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• Topics
• GPs
• Southern Europe
• Italy
• Quadrivio