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Sigefi and Finnat launch Italo-French private equity fund27/05/2003. Source: AltAssets. 
 French private equity firm Sigefi Private Equity has joined forces with Italian wealth management bank Finnat to launch an Italo-French private equity fund.
Siparex Italia aims to raise between E40m and E50m from Italian, French and international investors.
Siparex and Finnat have each committed E7.5m to the fund, which will focus predominantly on Italian middle-market companies but will also invest in France.
Siparex Italia will invest in a wide range of sectors but with a preference for company and consumer services, industry, agrifood and consumer goods. The fund will invest in companies with sales of E10m to E150m.
‘Sigefi's experience and track record should ensure the success of this initiative, which will not limit itself to duplicating the French model,' said Dominique Nouvellet, chairman and chief executive officer of Sigefi Private Equity.
‘We have chosen Finnat to be our partner not only for reasons of its prestige, but also for its corporate finance expertise and its in-depth knowledge of the specificities of the Italian market,' Nouvellet continued.
The management team will consist of three investment professionals and will be headed by Stefano Zavattaro, managing director and general manager of Sigefi Italia Private Equity.
In stark contrast to many other private equity markets the Italian private equity industry has remained relatively robust over the last 18 months. Italian buy-out activity reached record levels last year and fundraising levels also increased.
Italy's private equity market looks set to remain buoyant in 2003. It has already attracted interest from an array of global private equity firms including Carlyle Group, Barclays Private Equity, Blackstone Group, Permira and CVC Capital Partners.
Early signs for fundraising also look good this year with the launch of the second Opera fund and an impressive closing for B & S Group, which exceeded its E500m target in just seven months.
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