UniCredit Banca d?Impresa to work with 21 Partners

Italy’s UniCredit Banca d’Impresa has invested €99.5m in a €100m private equity fund to invest in small and medium enterprises to be managed by Italian fund management group 21 Partners

The fund will take minority stakes in high growth companies in Italy and is designed to offer the bank’s clients exposure to the venture capital market.

The appointment of an independent manager reflects the bank’s desire to avoid any potential conflicts of interest that might have developed had the bank been making the investments itself.