Gradiente has held the final closing of its second private equity fund, Gradiente II at its hard cap of EUR135 million, with commitments from a diverse group of Italian, European and US investors and surpassed its target of EUR120 million.
Gradiente’s previous fund, Gradiente I, had its final closing in September 2012 with EUR76 million of total commitments.
Gradiente, based in Padua, Italy, was established in 2009 by Pietro Busnardo with the backing of Italian banking foundations to make investments in the Italian lower mid-market segment. Today, Gradiente has a team of ten professionals, including three Partners: Pietro Busnardo, Carlo Bortolozzo and Fabrizio Grasso. The Fund will continue the successful strategy of Gradiente I and will target export-oriented businesses that are market leaders in attractive sectors and where Gradiente sees an opportunity to achieve substantial capital appreciation from three primary value drivers: growth, performance efficiency and strategic repositioning.
Pietro Busnardo, CEO of Gradiente, says: “We are delighted to reach a final closing on Gradiente II of EUR135 million, an amount which represents significant progress on the size of our previous fund. We would like to thank our existing investors for their continued support and welcome on board our new investors. Our first two portfolio investments in the Fund, HPF and Cold Line, are performing well and we continue to see a strong pipeline of opportunities in our segment of the Italian market”.
Elm Capital acted as the exclusive global placement agent for the Fund.