Neuberger Bergman said Monday that it has formed a strategic partnership with Intesa Sanpaolo to invest in Italian companies. The JV calls for Marco Cerrina Feroni and Fabio Canè, who previously led Intesa Sanpaolo’s merchant banking and private equity operations, and several members of their team, to join Neuberger Berman. Stefano Bontempelli, a former Neuberger Berman’s European Private Equity MD, has also rejoined the firm. The execs, who are based in Milan, will be part of the global Private Equity Division, which led by Anthony Tutrone, Global Head of Neuberger Berman Private Equity.
LONDON AND MILAN, 1st June 2015 – Neuberger Berman, one of the world’s leading private, employee-owned investment managers, is pleased to announce that they have formed a strategic partnership with Intesa Sanpaolo to pursue direct investments in Italian companies.
As part of this cooperation, Messrs. Marco Cerrina Feroni and Fabio Canè, who previously led Intesa Sanpaolo’s merchant banking and private equity operations, and several members of their team, have joined Neuberger Berman together with Stefano Bontempelli, a former Managing Director at Neuberger Berman’s European Private Equity business who has rejoined the firm. The three senior partners and their team will continue to be based in Milan and they will be part of the global Private Equity Division headed by Anthony Tutrone, Global Head of Neuberger Berman Private Equity.
This follows the consummation of a strategic transaction between Intesa Sanpaolo, one of Italy’s leading banks, and Neuberger Berman Private Equity, on 21st April 2015.
Anthony Tutrone commented, “We are delighted to partner with Intesa Sanpaolo and to welcome Marco, Fabio, Stefano and their colleagues to our team that now includes more than 85 private equity investment professionals in the U.S., Europe and Asia. This transaction fits Neuberger Berman’s strategy to geographically broaden and deepen our investment capabilities and is a helpful step to meet our clients’ growing allocations to Private Equity.”
Marco Cerrina said, “We are very pleased to join the team at Neuberger Berman. Its strong heritage in private equity fits well with our 20 years of experience at Intesa Sanpaolo in this asset class and will provide continuity and support to our operations in the Italian market.”
“We believe it is an attractive time to pursue our strategy of investing in leading growth-oriented export-driven multinational companies and are excited to leverage the Neuberger Berman and Intesa Sanpaolo platforms to create value for our partners,” said Fabio Canè.
Gaetano Miccichè, Intesa Sanpaolo General Manager, Head of Corporate and Investment Banking commented “The partnership with Neuberger Berman allows Intesa Sanpaolo to meet its strategic objectives while continuing to maintain an indirect presence in private equity and a source of capital to the economy.”
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Media Contact: Neuberger Berman, Joanna Pope, + 44 203 214 9087, Joanna.Pope@nb.com
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $251 billion in client assets as of March 31, 2015. For more information, please visit our website at www.nb.com.
About Intesa Sanpaolo
Intesa Sanpaolo is among the top banking groups in the euro zone, with a market capitalisation of 50.3 billion euro as at 30th April 2015.
It is the leader in Italy in the retail, corporate and wealth management areas. The Group offers its services to 11.1 million customers through a network of approximately 4,400 branches well distributed throughout the country.
Intesa Sanpaolo has a selected presence in Central Eastern Europe and Middle Eastern and North African areas with approximately 1,400 branches and 8.3 million customers belonging to the Group’s subsidiaries operating in commercial banking in 12 countries.
Moreover, an international network of specialists in support of corporate customers spreads across 29 countries, in particular in the Middle East and North Africa and in those areas where Italian companies are most active, such as the United States, Russia, China and India.