FSI SGR closes fund FSI II at €1.6bn

FSI SGR has completed the fundraising of its second fund FSI II, reaching around 1.6 billion euros, exceeding both the size of its previous fund and its own maximum fundraising target initially set at 1.5 billion euros.

The previous fund, FSI I, closed at around 1.4 billion euros.

FSI II, which stands in continuity with the previous FSI I fund by investing in the growth of Italian companies in partnership with entrepreneurial families and financial institutions, is now one of the leading private equity investors in Europe and the largest European growth fund dedicated to a single country, Italy.

The investor base is diversified and consists of pension funds, banking foundations, pension funds, European banking and insurance groups, sovereign wealth funds, supranational institutions, international asset managers and funds of funds, and family offices of leading Italian and European industrial groups.

More than half of the investors are international investors (55%), and more than 90% of FSI I investors have renewed their trust in FSI SGR. They were also joined by more than 30 new subscribers. Italian law firm Giovannelli e Associati acted as counsel to FSI on the final closing of the FSI II fund, with a team led by attorneys Giovanni Meschia, Marcella Gigante, and Rodolfo Margaria, who specialize in investment funds, and who assisted FSI SGR from the initial structuring of FSI II and throughout the entire fund raising activity.

FSI SGR's legal team was coordinated by lawyers Simone Terenzi (head of compliance) and Francesco Bernocchi (general counsel).