THE INTESA SANPAOLO GROUP CLOSES THE PRIVATE DEBT FUND FOCUSED ON ITALIAN COMPANIES AND SUCCESSFULLY RESOLVES THE FIRST TWO INVESTMENTS

·         Closing successfully completed of the reserved closed-end AIF ECRA Private Debt Fund for an amount of approximately €156 million, above the target of €150 million

·         Strategic institutional investors involved with a desire to support the growth of the Italian economic fabric

·         The first two investments in Italian companies to support their industrial development plans have been approved, thanks to the synergy between the Asset Management, Banca dei Territori and IMI Corporate & Investment Banking

Milan, 1 August 2024 - Intesa Sanpaolo has successfully completed closing of the Group's Private Debt Fund, raising approximately €156 million, exceeding the stated target of €150 million.

The fund, established by Eurizon Capital Real Asset, is directly supported by Intesa Sanpaolo and Intesa Sanpaolo Vita in consideration of the strategic importance of the initiative and its centrality within the 2022-2025 Business Plan.

The closing involves major institutional investors of strategic value. More specifically, the Fund is supported, among others, by Cassa Depositi e Prestiti (CDP), Fondo Italiano di Investimento through FOF Private Debt Italia and FII Private Debt Italia Due funds and Inarcassa, acting as Cornerstone Investor. Other key investors also participated, including BPER Corporate & Investment Banking.

The Private Debt market continues to grow and reached approximately $500 billion in assets under management in Europe in 2023. ECRA Private Debt Fund is characterised by a highly innovative operating model, hinged on the synergic collaboration of the Asset Management, Banca dei Territori and IMI Corporate & Investment Banking Divisions. In particular, 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 and the remaining 50% in market transactions according to the co-investment model typical of Eurizon Capital Real Asset.

Eurizon Capital Real Asset, which manages more than 10 billion investments in the private markets[1], enriches its offering with the first direct investment product in Private Debt. The Fund is classified under Article 8 of the SFDR. Intesa Sanpaolo's Banca dei Territori and IMI Corporate & Investment Banking Divisions strengthen their positioning in support of Italian SMEs and Mid Caps with increasingly advanced forms of finance, accompanying their development, globalisation, generational handover and sustainable transition processes.

The Fund's first two investments that will support two Italian companies in their industrial growth paths have already been resolved. More specifically, the first transaction concerns the financing of an Italian group operating in the sector of design, production and sale of special components for the transport, telecommunications and automation sectors; the second transaction will support an Italian group that is an international leader in the production of dosing systems for the water treatment, plant engineering and cleaning sector.

In view of the interest shown by several institutional investors, the Intesa Sanpaolo Group has decided to continue raising the fund with the aim of reaching a hard cap of €200 million.

Press information

Intesa Sanpaolo

Media and Associations Relations

stampa@intesasanpaolo.com

Intesa Sanpaolo

Intesa Sanpaolo, with over €422 billion in loans and €1.35 trillion in customer financial assets at the end of June 2024, is the largest banking group in Italy, with a significant international presence. It is a European leader in wealth management, with a strong focus on digital and fintech. The Group will provide €115 billion of Impact lending by 2025 to support communities and the green transition, together with a €1.5 billion program (2023-2027) to help people in need. The Bank's network of museums, the Gallerie d'Italia, hosts its owned artistic heritage and cultural projects of recognized value.  

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Eurizon is a leading player in the domestic and international asset management scene with a wide range of products. Eurizon Capital SGR heads up the Intesa Sanpaolo Group's Asset Management Division. It is present in Europe through the following subsidiaries: Eurizon Capital S.A., a Luxembourg-based asset manager with which it develops growth in foreign markets; Epsilon SGR, a boutique company specialized in structured products; the Eastern European Hub (Eurizon Asset Management Slovakia, Eurizon Asset Management Hungary and Eurizon Asset Management Croatia); Eurizon Capital Real Asset SGR (20% of the share capital, 51% with voting rights), dedicated to alternative asset classes; and Eurizon SLJ Capital LTD (65%), a UK asset manager focused on macro and currency strategies. Eurizon in present in Asia with Eurizon Capital Asia Limited in Hong Kong and through China's Penghua Fund Management (49%). Luxembourg subsidiary Eurizon Capital S.A. markets Luxembourg funds in 25 Countries while also operating in France, Germany, Spain and Switzerland.

[1] Figures at 30 June 2024. Internal source