The second placement window of Fideuram Alternative Investments (FAI) – Global Private Markets has closed, the first fund on multi-asset private markets (private equity, private debt, infrastructure and real estate) with an access threshold of 100 thousand euros, intended not only for the institutional market but also for the retail one, affluent, with a focus on medium-sized companies, especially European and North American, not listed on the markets.
The Fideuram Investimenti SGR solution was created for allow the flow of resources to the real economy, through investments in companies not present on listed markets, with an Ebitda between 50 and 150 million euros and able to create value over time. The fund is an important source of portfolio diversification, thanks to a less exposure to volatility short-term and to the possibility of seizing the best opportunities of private markets.
In this second subscription window - from 12 February to 15 March 2019 - the three networks of Intesa Sanpaolo's Private Division (Fideuram, Intesa Sanpaolo Private Banking and Sanpaolo Invest) placed 150 million euro. The fund has been subscribed by more than 1.200 customers, for an average amount placed of approx 125 thousand euros. Overall, the FAI – Mercato Privati Globali fund has collected since the opening of the placement over 530 million of Euro and was subscribed by more than 4.000 customers.
“After the extremely interesting first placement – commented Fabio Cubelli, Co-General Manager of Fideuram Intesa Sanpaolo Private Banking -, we wanted to offer our Private and Upper Affluent customers a second window. With a total of 530 million euros subscribed, it is one of the largest placements ever made in Italy on this type of investment, especially among those intended for the retail market. In this complex period, the networks of Intesa Sanpaolo's Private Division have once again traced a course that they will continue to follow in the near future as well. This asset class will increasingly become a structural component in the portfolios of private customers, as it has already been for institutional investors for over thirty years. The FAI fund demonstrates that customers may be willing to accept longer time horizons, in the face of a very high quality solution, with a view to diversifying their assets”.
