European private equity firm Investindustrial, China’s sovereign wealth fund China Investment Corporation (CIC) and Italian lender Unicredit have launched a €600m vehicle to invest in Italian mid-market businesses.

The new vehicle, the China-Italy Industrial Cooperation Fund (CIICF), will be managed by Investindustrial and target Italian companies with Chinese development opportunities, primarily in the consumer, industrial manufacturing and healthcare sectors, the firm said.

Andrea Bonomi, managing principal of Investindustrial, believes Italy offers great investment opportunities with “solid foundations and clear growth paths globally”. “Italian mid-market companies deserve to be both bigger and more competitive on a global scale,” he noted.

Founded in 1990 out of an industrial group and with €11bn of raised fund capital, Investindustrial has offices in London, Lugano, Barcelona, New York, Shanghai, and Luxembourg.

In November last year, the firm raised €3.75bn for its seventh European mid-market private equity fund.

Source: Private Equity News

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