Private Debt: closing at €156mln for Group Fund and first two investments

Intesa Sanpaolo has successfully completed closing of the Group's Private Debt Fund, raising funds of approximately €156 million, and has approved the first two investments in Italian companies.

Closing exceeded the target of €150 million and, in light of the interest shown by several institutional investors, fund-raising will continue with the aim of reaching the hard cap of €200 million.

Established by Eurizon Capital Real Asset (Link 1), the fund is directly supported by Intesa Sanpaolo and Intesa Sanpaolo Vita. Closing involved strategic institutional investors involved with a desire to support the growth of the Italian economic fabric.

More specifically, the Fund aims to invest:

• 50% in corporate clients of the Banca dei Territori Division, in co-lending on transactions structured by the IMI Corporate & Investment Banking Division
• the remaining 50% in market transactions according to Eurizon Capital Real Asset's typical co-investment model.

The first investments decided, thanks to the synergy between the Asset Management, Banca dei Territori and IMI Corporate & Investment Banking Divisions, will support the growth of two active Italian companies, operating respectively:

• in the design, production and sale of special components for the transport, telecommunications and automation sectors
• in the production of dosing systems for the water treatment, plant engineering and cleaning sectors.

The Fund is classified under Article 8 of the SFDR.

The Private Debt market continues to grow and reached approximately $500 billion in assets under management in Europe in 2023.