Italian independent investment bank Equita Group SpA launched a management company for alternative assets.
Equita Capital SGR will offer products including private debt funds and private equity funds structured as European Long-Term Investment Funds, a new type of investment that has tax incentives. It will also develop venture capital, renewable energy and real estate products. Environmental, social and governance factors that affect Italian small and medium-sized enterprises will be considered in the investment process.
It will launch with more than €1 billion in assets under management, including discretionary accounts and two flexible funds managed on behalf of the Credem Group and the Equita Private Debt Fund, one of the first funds of its type to be launched in Italy. The firm intends to roll out a second private fund in the coming months.
The central bank, Banca D'Italia SpA gave the green light to Equita Capital to start operations July 23.
