Arca Impresa reaches first closing on EUR70m

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Fund

Arca Impresa Gestioni has reached the first closing of its Arca Impresa Tre fund at EUR70m. The fund which has a EUR200m target has a 10+1+1+1 structure. The GP has contributed EUR5m with terms and conditions described as industry standard. The fund has a further 12 months to complete the fundraising process.

Investors

The fund has been subscribed to by banks, pension funds and insurance companies, all from Italy. The GPs are considering opening the next fundraising phase to foreign investors.

Investments

Arca Impresa Tre, which is already operating, will focus new investments in the Italian lower mid-market, following the investment strategy of its two predecessors. The generalist fund will target buyouts or growth capital deals, investing an average equity ticket of EUR5-20m. The fund focuses on majority positions but will remain open to taking minority stakes provided the exit strategy can be controlled.

The firm's previous two funds, Arca Impresa Duemila and Melior Equity Fund I, are in the process of winding down. However, some add-on acquisitions are expected to close in the upcoming months.

People

Gianluca Banfi is the managing director at Arca Impresa; he is supported by a team of six other professionals.

Name: Arca Impresa Tre

Target: EUR200m

First close: EUR70m July 2009Focus: Italian buyouts, growth capital

Contact: Gianluca Banfi

Address: Arca Impresa Gestioni Sgr, Via della Moscova, 3, 20121 Milan, Italy

Tel: +39 02 2902 2985.