DeA Capital holds €80m first close for agriculture fund

Unquote understands that the vehicle has a target of €100-120m and plans to reach a final close in 9-12 months.

The fund's management team will be supported by Ettore Fieramosca Advisor, a consulting firm that specialises in the agriculture sector.

DeA Capital Alternative Funds currently manages four funds-of-funds, five private equity funds (including two sector-specific vehicles), and two debtor-in-possession funds. In addition, the GP is raising its first private debt fund, DeA Capital Private Debt, which has a target of €150m and plans to hold a first close on €80-100m by year end.

Investors
The firm told Unquote that the fund's LP base includes several Italian pension funds and that it expects to receive new commitments from Italian and international institutional investors in the coming months.

Investments
Idea Agro will target companies based in Italy, operating in the agricultural industry and with a special focus on environmental and sustainability issues. It will invest equity tickets between €5-10m in 10-15 operations by acquiring primarily majority stakes. The investments will be made via special purpose vehicles in order to promote a buy-and-build strategy and create larger specialised companies via additional acquisitions.

People
DeA Capital Alternative Funds – Gianandrea Perco (CEO).

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