Wise SGR has closed Wiseequity IV at the fund’s hard cap of EUR215 million in equity commitments.
The fundraising was completed in under 6 months following strong demand from both existing and new investors. Italian institutional investors accounted for approximately 25% of the total commitments, while international investors, both from the US and Europe, represented 60% of total commitments, with the balance from the management team and HNWIs.
Wisequity IV will continue Wisequity III’s strategy targeting transformational investments in the Italian lower-mid market, with a particular focus on export oriented leaders in BtoB niches. Wisequity III, a 2011 vintage fund of €181.5 million, is 84% invested across 8 portfolio companies. The fund’s DPI at 31 December 2015 was in excess of 90% following the first two portfolio exits in Q4 2015, generating over 4,5x gross MoC.
Wise SGR, winner of “Italian best LBO fund” at the 2015 Private Equity Exchange, is a fully independent Private Equity manager, which has been investing in the Italian lower mid-market since 2000. The management company is owned by its five partners who are all focused on generating, executing and building value in portfolio transactions, with the help of seven additional directors, making the Wise team one of the largest, both in terms of partners and total team members, in the Italian Private Equity arena.
Wise SGR was advised by London based Rede Partners, a leading independent fundraising and secondary advisor to the private equity industry.
Italian Law Firm Legance acted as principal legal counsel and Proskauer acted as international legal counsel.
