LONDON, Nov 26 (Reuters) - Italian asset management firm
Nextalia has raised more than 500 million euros ($564.5 million)
in the first close of its newly launched private equity fund
focused on mid-market deals in the euro zone's third-largest
Nextalia, led by former Mediobanca banker Francesco
Canzonieri, said on Friday it had raised an overall 563 million
euros and aims to reach a hard cap of 800 million euros in
equity commitments in the first half of 2022.
The fundraising ranks as the biggest first closing for a
newly established private equity firm in Italy where the economy
is rebounding quickly from the impact of the COVID-19 pandemic
thanks to 191.5 billion euros in grants and loans from the EU
Canzonieri said his business venture was leveraging on a
network of "strong relationships across the business community"
and "an industrial approach to long-term sustainable value
creation." He added that the private equity industry is a key
enabler to the growth and success of Italian enterprises.
The Milan-based investment company has raised cash from a
broad spectrum of private investors with more than 15 banks and
insurance companies providing roughly 45% of the overall
commitments for its first closing and more than 10 pension funds
and banking foundations ploughing in another 20% of commitments.
Canzonieri, a shrewd dealmaker who started his career at
Goldman Sachs in 2000, set up Nextalia earlier this year and
secured regulatory approval from the Bank of Italy in July.
His investment platform aims to take majority stakes in
Italian businesses with high-growth potential and was launched
with the help of Italy's biggest bank, Intesa Sanpaolo, insurer
UnipolSai Assicurazioni, farming association Coldiretti and
venture capital firm Micheli Associati.
Nextalia said it had reinforced its nine-strong investment
team - which includes former DC Advisory Italy CEO Alberto Vigo
and ex-Clessidra Managing Director Matteo Ricatti - with a new
director who joins the company in January. It also added
information technology professor Vincenzo Morabito to its panel
of industrial advisers.
($1 = 0.8858 euros)
(Reporting by Pamela Barbaglia; Editing by Louise Heavens and