Mediobanca, Russell Investments launch third private market fund

The vehicle, which will be managed by Russell Investments, will be in its placement phase until the end of September 2020.

Mediobanca Private Markets Fund I and II raised more than $250m. The two vehicles have been targeting private equity, private debt, real assets and venture capital, with a special focus on medium-sized companies and US real estate. They have invested in a wide range of geographies, including North America and northern Europe.

Mediobanca Private Banking is the division of Italian lender Mediobanca dedicated to wealth management for private investors and high-net-worth individuals.

Headquartered in Seattle, Russell Investments is a global investment firm that operates in 31 countries worldwide and manages £237.5bn of assets. It specialises in multi-asset solutions and implementation services.

Investors
Mediobanca Private Markets Fund III is aimed at both individual and institutional investors.

Investments
The fund will pursue three main strategies: secondaries, distressed assets and opportunities in dislocated industrial sectors.

It aims at creating investment opportunities by exploiting market disruption and building anti-cyclical exposure through a rapid use of capital and the acquisition of assets at a high discount.

Angelo Viganò, head of Mediobanca Private Banking, said: “In an environment characterised by uncertainty and liquidity stress, our portfolio will be structured in order to exploit new opportunities that arise, particularly in the most distressed vintage funds. At the same time, a high level of diversification by asset classes, sectors and geographies will be maintained, with a focus on more efficient markets such as North America and Europe and, more selectively, Asia.”

He added: “There is ample room for growth in Italy as well. The economic and financial crisis caused by Covid-19 has further highlighted private capital’s potential to support the real economy. Investments made during recessions have potentially higher returns than those made in the preceding years. This is the best time in the last 10 years to invest in private markets.”

People
Mediobanca - Angelo Viganò (head of Mediobanca Private Banking).
Russell Investments Italy – Luca Gianelle (managing director).

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