Neuberger Berman has formed a strategic partnership with Intesa Sanpaolo to pursue direct investments in Italian companies.
As part of this cooperation, Marco Cerrina Feroni and Fabio Canè, who previously led Intesa Sanpaolo’s merchant banking and private equity operations, and several members of their team, have joined Neuberger Berman together with Stefano Bontempelli, a former Managing Director at Neuberger Berman’s European Private Equity business who has rejoined the firm. The three senior partners and their team will continue to be based in Milan and they will be part of the global Private Equity Division headed by Anthony Tutrone, Global Head of Neuberger Berman Private Equity.
This follows the consummation of a strategic transaction between Intesa Sanpaolo, one of Italy’s leading banks, and Neuberger Berman Private Equity, on 21 April 2015.
Tutrone says: “We are delighted to partner with Intesa Sanpaolo and to welcome Marco, Fabio, Stefano and their colleagues to our team that now includes more than 85 private equity investment professionals in the US, Europe and Asia. This transaction fits Neuberger Berman’s strategy to geographically broaden and deepen our investment capabilities and is a helpful step to meet our clients’ growing allocations to Private Equity.”
Cerrina says: “We are very pleased to join the team at Neuberger Berman. Its strong heritage in private equity fits well with our 20 years of experience at Intesa Sanpaolo in this asset class and will provide continuity and support to our operations in the Italian market.”
“We believe it is an attractive time to pursue our strategy of investing in leading growth-oriented export-driven multinational companies and are excited to leverage the Neuberger Berman and Intesa Sanpaolo platforms to create value for our partners,” says Fabio Canè.
Gaetano Miccichè, Intesa Sanpaolo General Manager, Head of Corporate and Investment Banking, says: “The partnership with Neuberger Berman allows Intesa Sanpaolo to meet its strategic objectives while continuing to maintain an indirect presence in private equity and a source of capital to the economy.”
