The Benetton family has secured regulatory approval to launch a new European private markets platform, 21 Next, with approximately €3bn in assets under management, according to a report by Bloomberg.
The platform will invest across private equity, infrastructure, energy transition and private debt, with ambitions to grow assets under management beyond €10bn over the coming years.
The venture has received approvals from several European regulatory authorities, including the European Commission, Italy’s Competition Authority, the Bank of Italy and France’s Autorité des marchés financiers.
21 Next brings together the Benetton family-backed 21 Invest and 21 Tages under the ownership of family holding company Edizione.
Edizione will hold a 55% stake in the combined platform, while the founders and senior management of the two businesses will own the remaining 45%.
Alessandro Benetton, chairman of Edizione, will chair 21 Next, while Panfilo Tarantelli has been appointed chief executive.
The platform has more than 100 investment professionals overseeing 11 active funds, while Edizione is committing €500m of seed capital to support future investment and expansion initiatives.
21 Next is already developing a series of new strategies as it looks to build a broader European alternatives business.
Its 21 Invest division is preparing to launch a pan-European lower mid-market private equity fund targeting approximately €800m of commitments. The strategy will focus on buyouts across Italy, France, Spain and the Benelux markets.
Meanwhile, 21 Tages has launched an infrastructure strategy targeting €500m in commitments, adding exposure to another major segment of the private markets.
