Funds managed by Neuberger Berman, including NB Secondary Opportunities fund IV LP, have acquired all units of Fondo Italiano di Investimento (FII). The assets were acquired from Cassa Depositi e Prestiti, Intesa Sanpaolo, UniCredit, Monte dei Paschi di Siena, Nexi, Banco BPM, Banca Popolare dell’Emilia Romagna, Credito Valtellinese, Banca Popolare di Cividale and UBI Banca.
The portfolio of FII includes minority positions in 21 portfolio companies with aggregated sales and EBITDA equal to about €2.3bn and €282m.
The Neuberger Berman private equity team has collected over 7 billion dollars since 2005. This particular fund will be managed by a team of nine professionals specialising in investment from Fondo Italiano d’Investimento SGR.
“The team will maintain a consistent investment philosophy focusing on long term value creation, in partnership with leading entrepreneurs,” Neuberger Berman said in an emailed statement.
“We believe there are very strong Italian entrepreneurs, who are leaders in their fields, and who, with access to our global network and capital, can successfully internationalise and accelerate their growth plans,” Anthony Tutrone, Managing Director and Global Head of NB Alternatives, said in an e-mailed statement.
Neuberger Berman was represented in this transaction by Gianni Martoglia and Giorgio Groppi and Alessandra Ghezzi of Gatti Pavesi Bianchi Law Firm in Milan, as well as Christian Neira, General Counsel of Neuberger Berman’s private equity business and Jagdip Gujral, Associate General Counsel.
