I private equity funds have invested 10,86 billion euros in Italian companiesthe first half of 2022 with 8 mega-deals, starting with the operation by the Cdp Equity-Blackstone-Macquarie consortium on Highways for Italy (Aspi). With these data, the first half of 2022 sees a increase of 139% compared to the same period of the previous year.
The last one says it AIFI report, the association of industry players, in collaboration with PwC Italy.
Private equity, the collapse of operations dedicated to business development is worrying
After a glittering first half of the year, the second half is viewed with concern. “The first half of the year shows significant growth in the amount invested by private equity in infrastructure,” he says Innocent Cipolletta president AIFI. “On the other hand, the collapse of the operations of expansion, dedicated to the development of businesses, and there are still too few of turnaround, to support companies in financial tension. In venture capital, the intervention of the Government and institutions has allowed the growth of the sector. You need to think about interventions through funds of funds, which help alternative finance to grow in order to be a valid support to the real economy”.
Acquisitions of majority or totalitarian stakes grow (+86%)
Al net of mega-deals, observed the director general of Aifi Anna Gervasoni, the number of transactions also grew from 253 in the first half of 2021 to 338.
In infrastructure sector the number of deals dropped from 25 to 15, but the amount tripled to 6,5 billion (+227%)
The investments of buyout (acquisitions of majority or totalitarian shares) recorded an increase of 86% by amount, equal to 3,6 billion, and by 24% by number, equal to 87.
The early stage (investments in companies in the first phase of the life cycle, seed, startup, later stage) grew by 50% in amount (442 million euro) with 210 transactions (+63%). On the other hand, activity is declining of the expansion (minority investments in capital increases aimed at the growth of the company) with only 186 million euros (compared to 299 million in the first half of 2021, -38%), invested in 15 operations (-35%).
Private equity: funding is down (-40%) compared to a very strong 2021
La total collection (both on the market and captive, i.e. coming from the fund's parent company) amounted to 1,7 billion euro, showing a drop of 40% compared to the first half of 2021 when, moreover, there had been some closings of significant size . There were 26 operators who closed during the period (21 in the same period of the previous year).
In terms of geographical distribution, 76% of the 314 operations carried out in the first half in Italy were carried out in the North (equal to 237 investments), 16% in the Center (51) and the remaining 8% in the South and Islands, which totals 26 investments. At the regional level, in line with previous years, the Lombardia it ranked first in terms of number of transactions (123, equal to 39% of the total), followed by Emilia Romagna (35,11%).
As regards the sectoral distribution, in terms of number, in the ICT sector 77 operations were carried out (23% of the total), 40 (12%) in the industrial goods and services sector and 37 (11%) in consumer services.
Le main sources of the collection were: insurance, 24%, pension funds and provident funds, 17%, and the public sector, 12%.
