Wednesday, 22 March 2017
Last updated 1 hour ago
May 22 2008 | 11:38am ET
Milan, Italy-based investment bank Gruppo Banca Leonardo has acquired 20% of BS Private Equity, a mid-market buyout firm. The bank has an option to buy remaining 80% of BS Private Equity at some point in the future.
According to terms of the deal, BS Private Equity, established some 20 years ago, will remain independent in its investment decisions, and Gruppo Banca Leonardo’s p.e. team, will join BS Private Equity’s team.
The deal coincides with BS Private Equity’s launch of Italian Private Equity Fund V, a €600 million (US$935 million) buyout fund, which unlike its predecessor funds will be open also to Italian investors. Both firms will commit €20 million (US$31 million) to the new fund.