The Italian Benetton family has merged its private capital arm 21 Invest with Milan-based Tages to create a new €3bn platform, 21 Next, as part of a plan to scale its assets to €10bn within five years, according to a report by the Financial Times. Edizione, the family’s holding company, will control the combined group.
Alessandro Benetton will chair 21 Next, with Tages co-founder Panfilo Tarantelli appointed chief executive. Edizione is committing €500m in seed capital to support the new strategy. The platform will target organic growth and further consolidation, as asset management becomes a larger part of Edizione’s portfolio.
The merger continues the family’s shift from retail toward infrastructure, with recent divestments from World Duty Free and Autogrill. Edizione also exited the Italian motorway sector after the 2018 Genoa bridge collapse, which helped damage the family name in Italy.
