Equita, an independent Italian investment bank, has completed a new fundraising phase for its second private debt fund Equita Private Debt Fund II, an Italian PIR alternative closed-end fund managed by Equita Capital SGR.
The new phase of EPD II’s fundraising involved four new investors that have invested EUR47 million in total between April and September 2021. The Fund has now reached EUR178.5 million and is approaching its EUR200 million target announced at the start of fundraising, with a hard cap of EUR250 million.
New investors include leading Italian pension funds such as ENPAM and Inarcassa. These institutions have joined the commitments of other important investors like Fondo Italiano d’Investimento, the European Investment Fund, a leading Italian life insurance company and another major Italian pension fund.
Andrea Vismara, Chief Executive Officer at Equita, says: “This successful closing confirms the attractiveness of EPD II to investors including pension funds and insurance companies. Our objective is to build long-lasting relationships with this kind of institutions, which are recurring investors in the asset class”.
Paolo Pendenza, Head of private debt at Equita Capital SGR, says: “Compared to our first private debt fund launched in 2016, EPD II is much larger in size and has a wider and more diversified investors’ base. This round of fundraising proves that the market really appreciates our skills and track-record.”
Equita has also continued its deal sourcing and investment activities. During the summer, the team successfully completed another investment, further accelerating the capital deployment of EPD II and achieving important benefits in terms of returns for investors, in line with the expected gross return of 10 per cent per annum. The total amount of invested capital has now reached EUR57 million in five different investments (32 per cent of current EPD II’s total commitments).