Private Markets Forum - Italy
The must-attend event for the Italian private equity community!
Palazzo Parigi, Milan
Agenda
Welcome remarks from the Chair
Panel – The State of the market: deals in Italy
This session will discuss the most relevant deals and future investment opportunities in the Italian Large and Mid-cap space, lessons learnt and future investments. How do global large-cap investors view potential target investments in Italy? Are there enough large- cap assets for their investment appetite?
- Market expectations: why is the Italian PE market still so bullish, even with the current macroeconomic uncertainty?
- The new (and expected) wave of global funds’ investments in Italy
- GPs vs LPs: cross sector developments and scenarios
- Which firms benefitted most from the pandemic: lessons in resiliency
- M&A activity: deals keep performing
Networking Break
Panel – New Private Equity business models: digitalisation and innovation
Italian private equity players are now facing new challenges in trying to scale up their size and investment activities, and Italian medium and small enterprises need to consolidate their local market position and develop visibility and market shares also at an international level. In doing so, fund managers will be requested to build new business models and adopting digital transformation could be the key to success.
- Innovative trends within Private Equity: which new business models are emerging?
- LPs and GPs organisation, structure and relationship: what is changing?
- A practical overview of how understanding and overcoming risks related to digitalisation help build resilience
- How is digitalisation a new driver to create value and generate superior returns?
- Impact of digital transformation on smaller businesses and how COVID-19 has helped speed up this trend
Presentation: The long view of M&A – private equity vs. corporate acquirors
If you are a corporate acquiror in 2022 then private equity is coming to eat your lunch - or to eat you. With M&A multiples at 30-year highs find out how competition between private equity and strategic acquirors for deals is driving a valuation frenzy, how private equity is gate-crashing strategic acquirors' growth plans, and how corporate acquirors are responding.
Networking Break
Fireside chat – A practical approach to sustainable development and ESG criteria
The rise of ESG principles of sustainability has been one of the most notable developments within the private market over recent years. For most investors, ESG due diligence is not just a box-ticking exercise but has rather become a strategic investment driver, an important step in value creation.
- Understanding the link between responsible investments and outperformance: the importance of ESG on deal-making and enterprise value creation
- Moving on from compliance to value creation: how does adopting a strong ESG policy lead to better long-term returns within private market portfolios?
- ESG impact on ratings and reputation
- How to integrate ESG into your deal practices
- The social aspects of sustainability
Panel – The evolution of Private Equity in Italy: new business models, opportunities and market trends
This panel will discuss how private equity is changing and how the current market trends (and the reality of the post-pandemic world) are driving this change as well as impacting it. They will also debate investment opportunities to explore the various approaches to the deal process, value creation strategies, sector views and ways of exit.
- How is the macro – rising energy costs, growing inflation and interest rates, shrinking consumers spending – going to impact the Italian Private Equity market? Which sectors are suffering the most?
- View of players: which sectors have been blacklisted and which are rising stars?
- Changes in deal structure: growth of the Italian minority market
- How has the investment thesis evolved? Are new business models emerging?
- Alternative solutions and private equity structure - unique structuring on deals
- Club Deals, Search Funds and Pledge Funds: are these the current investment focus for private equity?
- Generalist funds vs. sector focused funds
- What the viable exit routes are for Italian companies in 2022?
- What is the future of SPACs?
Closing remarks from the Chair
Networking Lunch
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Head of Research and Chief Economist, Intesa Sanpaolo.
Graduate in Economic and Social Sciences at Luigi Bocconi University, Milan. After spending a short period as a teaching assistant, he joined the Banca Commerciale Italiana (BCI) Research Department in 1983 and became Head of Research in 1995.
From 1994 to 1999, lecturer in Monetary Economics at Bocconi University.
From 2007 to 2010, Chairman of AIAF, the Italian Association of Financial Analysts. From 2015 to 2018, Chairman of the International Conference of Commercial Bank Economists (ICCBE).
He is a member of the Chief Economists’ Group of the European Banking Federation (EBF) and of the Board of Directors of Prometeia, Istituto per gli Studi di Politica Internazionale (ISPI), Fondazione Partnership per Bocconi, Associazione per lo Sviluppo degli Studi di Banca e Borsa (ASSBB), Associazione Nazionale per l’Enciclopedia della Banca e della Borsa (Assonebb), Studi e Ricerche per il Mezzogiorno (SRM), Gruppo Economisti di Impresa (GEI), Associazione Italiana Politiche Industriali (AIP), Fondazione Bruno Visentini, Fondazione Manlio Masi, Robert Triffin International Foundation, Rete Urbana delle Rappresentanze (RUR) and of some pension funds of the Intesa Sanpaolo Group.
He is also a member of the Scientific Committee of a number of economic associations and foundations.
He is the author of many publications in the fields of monetary policy and financial markets, banking and the management of public debt.
Matteo joined Intesa Sanpaolo CIB as Head of Financial Sponsor Group for the Italian market in April 2017, with a coverage responsibility across multi products/services within the IB division
Before he was Head of Mergers & Acquisitions in Italy at Société Générale CIB where he advised, in a decade, both corporate and financial sponsors clients across different sectors
Matteo has started his investment banking career more than 17 years ago, developing professional experience primarily in M&A, ECM and Leverage & Acquisition financing areas
Matteo obtained a degree in Business Administration at Luigi Bocconi University and a master in finance within the Grow Programme at Insead
Luca Bucelli joined Tikehau Capital in 2014 where he is currently Head of Italy. He opened the firm Milan office and started up the activities in the country performing 13 Private Debt transactions (Direct Lending and Leveraged Loans), 2 PE Real Estate investments, and fundraising from more than 50 institutional clients.
Prior to joining Tikehau, he worked for AlixPartners turnaround and restructuring practice in Paris and Milan, for Citigroup Alternative Investment fund of hedge funds in New York, and for Lehman Brothers Corporate Finance M&A in London and Milan.
Luca Bucelli holds an MBA with distinction from the New York University Stern School of Business and graduated in Business Management from the University of Florence.
Marianna, a Cambridge trained economist, is a co-founder and CEO of the corporate intelligence firm, 36Brains.
After several years conducting research and working in tech transfer, Marianna joined the US corporate investigations firm Kroll, where she rose to become Head of Southern Europe.
She left in 2020 to found 36Brains. Grasping the transformative value that big data will have on the corporate intelligence sector, Marianna has set up a budding European champion in the industry, with offices in Milan and Berlin.
A recognized expert in her field, Marianna regularly teaches courses at various universities and holds seminars in Italy and abroad, mainly England and the United States.
Marianna is a member of the Advisory Board of Transparency International Italy, a member of the Executive Committee of the Adam Smith Society and, a director of the ACFE Italy Chapter.
Philip is an advisor to the board of Sterling. He has more than 25 years' experience of working in strategy, M&A, corporate development and corporate finance leadership roles in management consulting, investment banking, public companies and private equity backed firms. Philip has served as an honorary visiting fellow in finance and as a member of the advisory board of the M&A Research Centre at Cass Business School, City, University of London. He is a co-author of over a dozen published M&A research studies and papers.
Gianandrea, già membro del Consiglio di Amministrazione di DeA Capital Alternative Funds SGR da aprile 2017, è stato nominato Amministratore Delegato e Direttore Generale il 28 giugno 2017. Da luglio 2021 è membro del Consiglio Direttivo di AIFI (Associazione Italiana del Private Equity, Venture Capital e Private Debt).
Ha iniziato la propria esperienza professionale nel 1997 in Mediobanca – nel Servizio Finanziario – per poi passare nel 2000 in Lehman Brothers nel team di Investment Banking. Nel 2001 è entrato in Capitalia e poi, nel 2007, post fusione, in UniCredit dove è stato responsabile del team di Corporate Finance Advisory e del team di Financing Multinational. Nel 2011 è diventato Condirettore Generale di FondiariaSai con la responsabilità delle attività immobiliari, dei business diversificati e delle attività di M&A. Dal 2013 al luglio 2015, è stato Partner di PwC. responsabile del team M&A.
Dall’agosto 2015 al giugno 2017 è stato Direttore Strategie e Sviluppo di DeA Capital supportando il vertice della Società nelle scelte strategiche di investimento, disinvestimento e nella gestione delle partecipate.
Gianandrea si è laureato con lode in Economia Aziendale – con specializzazione in Economia degli Intermediari Finanziari – presso l’Università Commerciale Luigi Bocconi di Milano.”
Francesco Aldorisio, Partner – Private Equity, is responsible for direct investments in Europe. He is also responsible for due diligence and execution of fund investments in Italy and sourcing of secondary fund investments in Europe. Francesco is a member of the advisory board of several private equity funds and sits on the board of various companies across Europe. He joined Unigestion in 2017 with the integration of Akina into Unigestion’s private equity unit.
Francesco holds a Master’s Degree cum laude in Economics, Statistics and Social Sciences with a major in industrial economy and corporate finance from Bocconi University in Milan, Italy.
He joined Clessidra Private Equity SGR S.p.A. (formerly Clessidra SGR S.p.A.) in 2005 and was involved in the completion of various deals including Impresoft, Scrigno, Viabizzuno, Balconi, Euticals, Buccellati and Harmont & Blaine.
He is currently Board member of Impresoft, Viabizzuno and Harmont & Blaine. Prior to Clessidra he had investment banking experiences in Merrill Lynch and Deutsche Bank.