Equita Private Debt Fund holds first close on €66m

Amedeo Goria
21 March 2016

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Italian investment bank Equita Sim has held a first close on €66m for its mid-market private debt fund, which will also target equity investments.

The vehicle is slated for a final close on €150m in 12-18 months and has a SICAV-SIF structure, which allows it to provide debt facilities as well as invest in equity. According to a statement, the fund management team is looking at several investments opportunities, which will be announced in April 2016.

The vehicle will be managed by Luxembourg-based management company Lemanik. Equita partners Paolo Pendenza, Nicolò Sagramoso and Bekim Krasniqi are in charge of the fund.

Investors
According to a statement, several Italian institutional investors committed capital to the fund, including Fondo Italiano d'Investimento, which committed €25m, banks and insurance companies, as well as high-net-worth individuals. The GP will commit capital to the fund as well.

Investments
The fund focuses on senior and subordinated debt financing and equity investments in Italian mid-market industries with a four- to seven-year lifespan. The vehicle follows industry standards with regard to fees, carry and hurdle.

People
Equita Sim – Alessandro Profumo (chair); Francesco Perilli (CEO); Paolo Pendenza, Nicolò Sagramoso, Bekim Krasniqi (fund managing partners).