Equita Smart Capital – ELTIF reaches the first close at 50m after only a few months of marketing with Cordusio SIM




Milan, November 6, 2021

Equita Capital SGR – the alternative management company of the Equita Group – and Cordusio SIM – the UniCredit Group’s wealth management store – announced the first closing of Equita Smart Capital – ELTIF, the alternative private equity and PIR fund that will invest in small and medium-sized Italian companies.

After only a few months of marketing, Equita Smart Capital – ELTIF has reached 50 million euros in commitments, good

above the threshold of 30 million euros required for the prior closure of the fund and including a commitment from a primary institutional investor.

The emphasis on Italian private equity and the tax advantages offered by the regulation of alternative PIR products are some of the crucial factors that have sparked investor interest in the fund.. Equita Smart Capital – ELTIF aims to support entrepreneurs and management teams of Italian small and medium-sized private companies to execute their strategies and growth plans with long termfinancial resources and management expertise. Equita Smart Capital – ELTIF benefits from the unique combination of skills and know howof the Equita Group, including the ability to generate a recurring and diversified stream of investment opportunities.

Cordusio SIM, member of the UniCredit group, has supported Equita Capital SGR from the very beginning of the project and acted as the first distributor of Equita Smart Capital – ELTIF.

Stefano Lustig, Co-Head of Alternative Asset Management at Equita Capital SGR, and Rossano Rufini, Head of Private Equity at Equita Capital SGR – co-sponsors of the project – commented: “The results obtained by Equita Smart Capital – ELTIF during the initial distribution phase are encouraging. The strong interest in our fund is proof that ELTIFs are the right instrument to ensure the flow of private savings into the real economy and we firmly believe that investing in small and medium-sized private enterprises is an inclusive model “.

Matteo Ghilotti, Chairman and CEO of Equita Capital SGR, commented: “Equita Smart Capital – ELTIF is a strategic initiative for Equita. It enriches our range of investment products and strengthens our focus on SMEs. The fund allows both institutions and individual investors to invest in the real economy. What we have achieved with this first phase of fundraising is the result of the efficient and informed distribution capacities of partners like Cordusio “.

Manuela D’Onofrio, Head of Group Investment Strategy at UniCredit and Head of Investment & Solutions at Cordusio,

commented: “In market contexts where bonds can no longer be a dominant part of the portfolio, if we want to deliver positive returns, we advise clients to introduce investment strategies into their portfolios that are positively correlated to the real economy. This ELTIF, like all market instruments, is part of the type of “mission / objective” investment that we share with our clients. Without forgetting the great virtuous advantage of Equita Smart Capital – ELTIF which allows the allocation of savings to productive activities in our country that can facilitate recovery, create jobs and determine a positive social impact. Objectives shared by UniCredit which, with targeted programs, continues its commitment to the forefront of support for Italian companies and the real economy “.

The fund has an eight-year horizon from the date of the First Closing and an investment period of four years. The target gross return in terms of internal rate of return (IRR) is set between 12% and 14% per year, calculated over the life of the fund and representing a multiple of the invested capital (MOIC) of approximately 1.8x .

Equita – Cordusio joint press release

Equita Smart Capital – ELTIF aims to raise 140 million euros in total. Equita Capital SGR and the fund management team will invest alongside investors to ensure full alignment of interests. The fund is aimed at both professional investors and individual investors with an adequate financial profile.

Equita Capital SGR also signed a distribution agreement with Allfunds Bank and other selected distributors, joining Cordusio to support the distribution phase.

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Equita Smart Capital – ELTIF is an Italian closed-end Alternative Investment Fund (AIF) and focuses on a flexible and long-term investment strategy with the aim of improving investor returns. The fund meets the requirements of “alternative” PIR products as it invests mainly in private Italian SMEs, as well as in listed and listed companies with a market capitalization of less than 500 million euros. Between 60% and 70% of the fund’s assets will be invested in small and medium-sized private companies (private equity), 20% to 35% in listed companies (public equity) and the remaining 5-10% in listed bonds ( public debt). Such a combination will allow fund managers to seize the best opportunities in the private and public markets. With particular reference to private equity, the fund will invest mainly in holdings qualified as minority interests and, on a selective basis, in majority holdings, mainly through capital increase operations alongside the management team and of target entrepreneurs. The fund will also consider potential co-investments alongside primary financial institutions to invest in larger deals.

The fund aims to raise 140 million euros and will have a duration of 8 years from the date of first closing and an investment period of 4 years. The target gross return in terms of internal rate of return (IRR) is set between 12% and 14% per year, calculated over the life of the fund and representing a multiple of the invested capital (MOIC) of approximately 1.8x .

The ELTIF structure will guarantee investors high standards in terms of protection, portfolio composition and diversification of asset allocation, in addition to a favorable tax regime (subject to specific requirements and conditions provided for by the PIR regulations). “Alternative”, including specific requirements for the length of detention). For more details, visit the official website wwww.equitasmartcapital.eu

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Equita, the first independent Italian investment bank, has been offering its expertise and vision of the financial markets to professional investors, companies and institutions for more than 45 years. The Equita Group holding company, listed on the “STAR” segment of the Italian Stock Exchange, has its managers and professionals among its shareholders (with approximately 54% of the share capital) and this ensures a strong alignment of interests with investors. With its activities in global markets, Equita is today the first independent broker in Italy which offers its institutional clients brokerage services in stocks, fixed income, derivatives and ETFs. In addition, thanks to the continued commitment of the award-winning research team – recognized for its superior research – the dealing room supports investor decisions with valuable analysis and investment ideas in the Italian financial markets and Europeans. Equita also relies on a unique investment banking platform that combines independent strategic advice with unparalleled access to capital markets. The broad offering includes M&A advisory services, other extraordinary financial transactions, as well as equity and fixed income capital raising solutions. Our goal is to serve all of our customers in the best possible way, from large industrial groups to small and medium-sized businesses, from financial institutions to the public sector. Finally, Equita Capital SGR provides institutional investors and banking groups with its skills in asset management and its in-depth knowledge of financial markets, particularly in medium and small caps. The focus on alternative assets such as private debt and asset management strategies based on the Group’s distinctive areas of expertise make Equita Capital SGR the best partner for both investors looking for attractive returns and for banking groups wishing to co-develop new products for their retail networks.

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Cordusio SIM SpA is the UniCredit group company dedicated to wealth management in Italy, founded in November 2016. Cordusio manages the assets of 3,900 very wealthy Italian families – with at least 5 million euros in assets – with the one of the most important specialized banks on the market. Today, a strategic partner of Italian entrepreneurial families, Cordusio has an autonomous and independent investment department, 3 regions – 21 offices in Italy and a network of more than 100 bankers alongside a team of investment managers. portfolio and finance professionals. Cordusio builds ad hoc solutions for each client: from portfolio management managed internally, to bancassurance solutions, to paid advice service based on the skills of the Investments Department and a dedicated Advisory Desk. Cordusio collaborates with around 30 Asset Management who offer traditional products and alternative strategies, provides an exclusive and dedicated advisory service also in the SRI / ESG framework and also offers access to private markets by selecting Private Debt, Private Equity solutions, ELTIF and Spac. Finally, thanks to synergies with the UniCredit Group, Cordusio offers its clients privileged access to Corporate, Corporate & Investment Banking opportunities and also provides them with specialists in Art Advisory, Real Estate Advisory and Wealth Planning with a view to protection. heritage. , philanthropy and generational transmission.

Equita – Cordusio joint press release


Equita SpA Group published this content on 06 November 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 06 November 2021 06:47:00 AM UTC.


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