The overall commitment of Cassa Depositi e Prestiti reaches a total of 300 million euros. CDP has authorized a further investment of 100 million euros, in addition to the 200 million, for the “FOF Private Equity Italia” investment fund, managed by Fondo Italiano d'Investimento Sgr, the asset management company 68% owned by Cassa Depositi e Prestiti.
The asset management company currently manages eight closed-end investment funds, reserved for qualified investors, mainly active in the private equity and private debt sector, for a total of assets under management of around 2 billion euro.
The additional subscription multiplies, with a very significant potential leverage effect, the availability of capital for the Italian business market, in this moment of crisis, more necessary than ever.
The FOF Fund has a target size of 600 million euros and has as objective is to support the development of the Italian SME marketby subscribing shares in private equity funds. To direct investments towards professional operators who operate with an approach aimed at the growth of these companies and, consequently, at supporting the real economy.
In this way, the Fund will be able to dedicate more resources to each target fund and, at the same time, invest in a greater number of funds to facilitate their collection by third party investors.
“Today's – he commented Fabrizio Palermo, Chief Executive Officer of CDP – is another initiative by CDP in favor of companies in our country, which is of particular importance, considering the current emergency situation. Thanks to the additional investment of 100 million euros, FOF Private Equity Italia will be able to invest indirectly in many companies, thus promoting their recapitalization and growth processes”.
