European Investment Fund appoints new chairman

Scannapieco is vice-president of European Investment Bank, the majority investor in the fund. The Italian chairman takes over from Belgian Philippe Maystadt.

Richard Pelly remains the chief executive of the EIF.

In an effort to strengthen its links with Italy, EIF recently signed an agreement with state-backed mid-market private equity house Fondo Italiano di Investimento to share due diligence work and co-invest in SMEs.

EIF will continue to act as a fund-of-funds. As of the beginning of the year, it had €5.4bn invested in 300 funds. Italian investments amount to €327m across 15 funds.

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