Italian asset manager Nextalia has raised €563m in the first close of its newly launched private equity fund, Nextalia Private Equity.
The Milan-based firm secured the amount from a range of investors including with over 15 banks and insurance companies contributing around 45% of the overall commitments.
Approximately 20% of the commitments came from more than 10 pension funds and banking foundations, while a number of family offices and entrepreneurs provided around 35% of the overall commitments for the fund’s first closing.
Nextalia expects the final closing of the fund to reach its hard cap of €800m within the first half of next year.
Commenting on the development, Nextalia CEO Francesco Canzonieri said: “The success of our fundraising represents clear evidence of the commitment of our shareholders and investors to contribute to the growth of Italian companies and of our Country as a whole.
“We believe Nextalia is uniquely positioned to take advantage of this opportunity thanks to an exclusive network of strong relationships across the business community, a team of highly qualified professionals and an industrial approach to long-term sustainable value creation.”
Said to be a closed-end reserved alternative investment fund, Nextalia Private Equity’s s investment strategy focuses primarily on making majority investments in Italian companies with high growth potential.
It acts as a reference partner for the companies by supporting sustainable value creation and growth through investments.
It also provides the companies with managerial support as well as access to its proprietary network.
Recently, a report by The Wall Street Journal said that Ray Dalio’s Bridgewater Associates raised the equivalent of $1.25bn for its third investment fund in China.