21 Partners holds first closing of 21 Investimenti III on €M 220

February 2, 2015

21 Investimenti III has garnered strong support from both existing and new investors, with a first closing on €M 220.

The Italian team of 21 Partners has demonstrated the relevance of its approach in the attractive Italian mid-market, selectively building a solid portfolio, reinforcing its advantageous positioning in the competitive landscape, and pursuing a solid exit pace. Indeed, 4 investments of the predecessor fund have been realized since June 2014 at an average multiple of 3.0x cost and generated close to €M 200 in aggregate proceeds distributed to investors.

21 Investimenti III will pursue the same investment strategy as its predecessor, making control growth buyout investments in Italian SMEs with EVs ranging from €M 50 to 200. 21 Italy employs a highly selective approach to investment, targeting companies with a strong positioning in attractive markets and compelling prospects for growth, partnering with likeminded entrepreneurial management teams on the basis of a common vision.

The value creation approach to be implemented by 21 Italy in the new fund builds on over 20 years of experience and is based on three key pillars: strategic guidance, acceleration of growth, and improvements in efficiency.
LP appetite continues to be strong and 21 Investimenti III should break the €M 300 mark in the coming months.

Alessandro Benetton, Founding Managing Partner of 21 Partners commented: “We are very proud of the trust which investors place in our approach and of their eagerness to gain exposure to the attractive Italian mid-market opportunities delivered by our experienced local team. With this new fund, we will continue supporting businesses in achieving long-term growth and acceding to the next stage of their development.”

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