“We’ll call soon a general meeting in order to raise our Third fund’s hard cap to 3.6 billion euros from previous 3,3 billions. We will be ready to announced a final closing of our fundraising on that target next April”, private infrastructure operator F2i sgr‘s ceo Renato Ravanelli told MF Milano Finanza.
Mr. Ravanelli also said that “the fund already received demands for more than 4 billion euros but we decided to limit fundraising at 3,6 billions in order to mantain a certain equilibrium between the value of portfolio assets and new money which is coming mainly from foreign investors”.
F2i sgr announced last December a first closing at 3.14 billion euros as it inherited (through a merger) the assets of F2i’s first fund for a 1,74 billion euros and 1.4 billion euros of new cash from new investors (see here a previous post by BeBeez).
The deal generated good gains for the first fund’s investors who sold their stakes in the first fund and then reinvested in the third fund, while Unicredit which sold its stakes to Ardian and did not reinvest in the new fund cashed in about 100 million euros (see here a previous post by BeBeez).