Fondo Italiano d’Investimento SGR secured €503m for its private equity fund, Fondo Italiano Consolidamento e Crescita II (FICC II), following a successful closing.

The raise also marks a strategic breakthrough, with LGT Capital Partners joining as the fund’s first international investor.
The latest closing attracted both existing and new backers, including CDP Equity, Fondazione ENPAM, UniCredit, Intesa Sanpaolo, and Inarcassa—many of whom supported the original FICC vehicle. Meet and hear more from Fondo Italiano by joining Italy’s Largest Private Equity Conference in Milan.

FICC II continues its mission of backing high-growth Italian companies in sectors critical to national competitiveness, including Made in Italy, digital transformation, industrial technologies, healthcare, tourism 4.0, and life sciences. The fund operates under Article 8 of the SFDR, integrating ESG factors into its investment process.

Gianpaolo Di Dio, CIO and Senior Partner, noted that this fundraising milestone reflects investor confidence in the firm’s consolidation-focused strategy. “The first three exits from our FICC portfolio allowed us to return almost all invested capital, even in a tough market,” he said. Current holdings, including Mecaer, HNH, and RINA, reinforce the team’s positive outlook.

The fundraise builds on Fondo Italiano’s broader platform, which now manages over €4bn in assets across 21 closed-end funds. Established in 2010 by Italy’s Ministry of Economy and Finance, the firm focuses on strengthening the country’s industrial ecosystem through private equity investments, combining financial returns with long-term economic impact.