Riello's Impresa Italia II holds €73m first close

The fund was launched in April 2020 with a €150m target and is already larger than its predecessor, Impresa Italia I, which raised €70m in 2016 and is now fully deployed.

The vehicle will be managed by a team led by investment director Alberto Lampertico.

In addition to its private debt strategy, the GP manages a private equity vehicle, Italian Strategy, which targets majority and controlling minority stakes in Italian SMEs with enterprise values of €10-120m, operating in the fashion, food, automotive, furniture and cosmetics sectors. The vehicle deploys equity tickets in the €5-30m range in buyout transactions with moderate leverage – around 3-3.5x EBITDA.

Investors
Impresa Italia II has received commitments from the European Investment Fund and Fondo Italiano d'Investimento, which are backing the vehicle as anchor investors. In addition, it has raised capital from several banks and insurance companies.

Investments
Impresa Italia II targets Italian mid-market companies and specialises in providing senior and junior loans, residual equity instruments and convertible bonds.

The fund invests in Italian SMEs with high-growth potential and ambitious expansion plans.

The vehicle will have a strong focus on ESG in the target selection process, and in the development and implementation of its portfolio companies' growth plans.

"We have a pipeline of great interest and value, with some deals already at an advanced stage of analysis, and we expect to ink a first transaction very soon," said Lampertico.

People
Riello Investimenti Partners – Nicola Riello (chair); Alberto Lampertico (investment director).

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• Topics
• Funds
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• Southern Europe
• Riello Investimenti
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