EOS holds €55m first close for maiden fund

The Luxembourg-based vehicle is structured as a SICAV-SIF fund and has a €150m target. It aims to acquire minority and majority stakes in Italian SMEs, with a possible extension to other European countries on an opportunistic basis. According to a source familiar with the situation, the GP expects to hold a second close during the first half of 2017 and the final close in 12-18 months from the November launch date.

The GP is a UK-based alternative investment fund manager (AIFM) and is authorised and regulated by the Financial Conduct Authority. The vehicle follows industry standards, including a 2% management fee, a 20% carried interest, 7% hurdle rate and 10-year lifespan.

Concurrently with the first close, the GP recently acquired an 86.5% stake in the Italian packaging manufacturer Poplast. The deal marks the first acquisition for the GP's maiden vehicle.

Investors
The fund raised capital from several institutional LPs, including pension funds, banks and foundations, as well as family offices and high-net-worth individuals active in the industrial sector.

Investments
According to a statement, the vehicle targets majority as well as qualified minority acquisitions in companies with revenues ranging between €20-70m, aiming to inject equity tickets of up to €20m.

The fund has a particular focus on the industrial goods and healthcare sectors. In particular, the fund targets businesses operating in industrial, healthcare, packaging, food and consumer goods sectors, but will not invest in the luxury, service, retail and financial sectors.

People
EOS Investment Management – Ciro Mongillo (founding partner, CEO); Marco Giuseppini (managing director).

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