Da Intesa Sanpaolo the first fondo di Private Debt for the pmi. The Group led by Carlo Messina has set up its first Fund - which collects subscriptions from institutional investors - to support the development of SMEs and Mid Caps "through innovative financial solutions that support the real economy and sustainable transition processes", explains a note. The engagement of “anchor” institutional investors is also envisaged, including Intesa Sanpaolo itself.
Private Debt is a sector experiencing strong growth at an international level and in 2022 it reached 3,2 billion euros in investments in Italy, up 45% compared to the previous year.
The Intesa Sanpaolo fund
The fund - continues the note - was established by Eurizon Capital Real Assets, the company of the Asset Management Division controlled by Eurizon Capital Sgr focused on alternative asset classes dedicated to the real economy. The initial objective is to raise 150 million euros from institutional investors and provides for a direct stake in the bank. Eurizon Capital Real Asset will be responsible for the selection, analysis, approval and monitoring of the investments that will become part of the fund.
The project is part of the initiatives of the Business Plan 2022-2025 of the group and sees the involvement of the Asset Management, Banca dei Territori and IMI Corporate & Investment Banking divisions. In particular, the Fund will raise resources to invest up to 50% in customer companies of the Banca dei Territori Division, in co-lending on structured transactions by the IMI Corporate & Investment Banking Division and for the remainder in market transactions according to the co-investment model typical of Eurizon Capital Real Asset, as well as direct investments, the latter up to a maximum of 10% of the total amount of the Fund.
