By partnering up with Milan-based Ver Capital SGR, an Italian financial operator, Sienna Investment Managers, IM, has expanded its private loan business and joins the Italian market.

This purchase represents another key step in Sienna IM‘s expansion plan as a pan-European, multi-expertise asset management organisation with a foothold in eight countries.

In order to expand their presence to a wider international client base, Sienna IM and Ver Capital will merge their industry knowledge, resources, and expertise to manage about €3bn ($3.2bn) in private debt (out of €34.1bn of total AuM as of December 2023) and accelerate their development by providing comprehensive investment solutions to a broader spectrum of investors who have historically been based in France and Italy.

The businesses will implement corporate cross-governance in order to guarantee coordinated cooperation between Italy and France.

Ver Capital has built a strong name in the Italian market with a staff of seasoned experts dedicated to quality.

After the acquisition, Ver Capital will complement Sienna IM’s current offering with its well-known European high yield, leveraged loans, and local private debt expertise.

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Meanwhile, the team at Sienna IM will leverage its experience and track record in both asset-backed financing and direct lending, specifically in the areas of real estate, infrastructure, and public sector, as well as mid-market small business.

Paul de Leusse, CEO of Sienna IM, said: “By joining forces, we will have the scale needed in both countries to offer a particularly large range of products and services, and to benefit French and Italian clients from our presence in Europe. We are also delighted to welcome Andrea Pescatori who will bring his network of Italian investors and his deep-rooted knowledge of the local asset management industry to our leadership team.”

Laurent Dubois, chief investment officer – private debt, shared: “Given our complementary strengths, the new cross-border partnership will create a unique and agile player covering a large spectrum of liquid and private credit solutions for the benefit of sophisticated investors across the globe.”

Andrea Pescatori, CEO of Ver Capital, added: “We are very excited to kick off the partnership with the Sienna Group that will mark a new chapter for Ver Capital, with a more international perspective and with the aim to create a comprehensive international platform in the European credit space with a solid experience and track records in our relevant sectors.”