H.I.G. Capital, a global private equity firm with more than US$13 billion of equity capital under management, has opened an office in Milan.
The Milan office will be headed by Raffaele Legnani as a managing director to lead its business efforts in Italy.
Prior to joining H.I.G. Capital, Legnani was founding partner of Atlantis Partners in Milan. Earlier to this he has worked in investment banking for Goldman Sachs in London.
Also, Legnani has invested in a number of buyout transactions through specialized private equity funds including the London based Stellican and the US based Wexford Management serving as operating board member for several portfolio companies.
Legnani said: "Focusing on midsize companies with a turnover above 50 million, H.I.G. targets the backbone of the Italian economy. He expects H.I.G. to be flexible in its approach in Italy, providing both debt and equity capital and investing in either majority or minority stakes in promising Italian businesses with a strong and sustainable competitive position.
"He also expects H.I.G. to assist Italian companies to capitalize on international growth and expansion opportunities, given its global presence and its wide team of international experienced professionals," he added.
Sami Mnaymneh, co-founder and managing partner of H.I.G., said: "I believe the market opportunity in Italy is a perfect fit with H.I.G.’s capabilities and, under Raffaele’s leadership, we hope to be a very active investor in Italy. "
H.I.G., with offices in London, Hamburg, Madrid and Paris, currently has a team of over 50 investment professionals in Europe.