Business (IR)

EQUITA Smart Capital - ELTIF closes the fund raising with €98.4 million and becomes the largest non-captive, alternative PIR in Italy

Milan, July 19th, 2023

EQUITA Capital SGR S.p.A. is pleased to announce the final closing of EQUITA Smart Capital – ELTIF, the private equity and alternative PIR fund investing in Italian small and medium enterprises (the “Fund”).

The Fund raised approximately €100 million by mainly distributing the product to primary private banking networks, in addition to several professional investors and retail investors with an adequate financial profile. The success of the fundraising confirmed the strong interest of investors in the Fund, mainly driven by its focus on Italian private equity, its unique positioning in terms of investment strategy and the tax advantages offered by the regulation on alternative PIRs.

Among the private banking networks involved in the distribution, a significant contribution to the fundraising came from UniCredit Private Banking (formerly known as Cordusio SIM), Credem Euromobiliare Private Banking, Banca Sella and Banca Sella Patrimoni & C. These networks – together with other private banking networks – have allowed EQUITA Smart Capital – ELTIF to raise more than any other non-captive, alternative PIR in Italy.

Since the first closing in November 2021, EQUITA Smart Capital – ELTIF has assisted entrepreneurs and management teams of Italian small and medium enterprises, supporting the execution of their business strategies and their growth plans with long-term capital and managerial skills. 

As of today, the Fund has already completed two private equity investments: a 33.3% minority stake in Clonit – company active in the developing, manufacturing and distribution of in vitro diagnostic equipment and reagents for molecular diagnostics – and a 60% majority stake in Rattiinox – company active in the design, production, and distribution of aseptic, radial valves for the pharmaceutical, chemical and food industries.

The investment phase of the Fund is expected to experience an acceleration in the coming months, thanks to a robust and diversified pipeline, also fed by the constant stream of investment opportunities deriving from EQUITA’s broad network of contacts.

Rossano Rufini, Managing Partner and Head of Private Equity at EQUITA Capital SGR, commented:Fundraising was intense but rewarding. In this uncertain and challenging market situation, EQUITA Smart Capital – ELTIF is the private equity fund that raised the largest amount of funds from retail investors among non-captive initiatives. Alternative PIRs in Italy have a huge, still unexplored potential. We expect these funds to grow significantly in the coming years, also benefitting from new incentives and simplifications on subscription of these products”.

Matteo Ghilotti, Chief Executive Officer at EQUITA Capital SGR S.p.A., commented:EQUITA Smart Capital – ELTIF further diversifies the offering of EQUITA Capital SGR within the private capital solutions we provide. With the completion of this initiative, EQUITA confirms its role of reliable asset management platform for financial institutions and banking networks when alternative, illiquid assets are involved. I want to thank all partners that have helped EQUITA with the fundraising, with their enthusiasm as well as their responsible distribution”.

EQUITA Smart Capital – ELTIF has a horizon of 8 years and an investment period of 4 years from the first closing date. EQUITA Capital SGR and the management team of the Fund will co-invest alongside investors to guarantee the alignment of interests.

Download the press release

EQUITA Smart Capital - ELTIF closes the fund raising