FSI on track to reach €1.5bn hard-cap for latest partnership fund.
The fund has already surpassed its €1.38bn predecessor, which closed ahead of its €1.35bn target in 2019, Private Equity International has learned.
“Italy has a very rich pool of successful entrepreneurs. It’s a family-led economy with high-quality businesses, first-time openers to private capital, and also has a number of corporates and financial institutions that have potential for carve-outs of attractive assets,” Ravanne co-founder and CIO, told PEI.
“We’re perceived within the Italian community as a very inclusive investor, as opposed to a buyout fund that would come internationally and just pay out the shareholder and take majority or 100 percent.”
The private equity market is seeing an increasing number of multi-product global brands absorb capital from investors, Roberto Pilotto, IR and international partner for fund development, told PEI.
FSI believes “there is and there will be a growing space for sector-focused quality mid-market partnership specialists like FSI” that are capable of originating and scaling up companies that typical international buyout investors would find difficult to access, he added.