BNP Paribas Securities Services has been selected by Fondo Italiano d’Investimento SGR (FII SGR) to provide depositary banking services to its Fondo Italiano di Minoranze per la Crescita, a new private equity fund dedicated to minority investing.
FII SGR was created in 2010 at the initiative of the Italian Ministry of Economy and Finance and with the participation of CDP Equity, Intesa Sanpaolo, Unicredit, Abi and Confindustria.
BNP Paribas noted that its Fondo Italiano di Minoranze per la Crescita, or Italian Minority Fund for Growth, was launched in May 2020 and aims to support the growth of Italian small and medium-sized companies. The fund has a target of €400 million.
Andrea Cattaneo, general manager of BNP Paribas Securities Services Italia, said: "We are pleased to take part in a project that supports the growth of Italian small and medium-sized enterprises and the rebuilding of the Italian economy.”
Antonio Pace, CEO of Fondo Italiano d’Investimento SGR, said: "With the new Italian Minority Fund for Growth, we intend to carry out our 10-year plan to support the domestic and international development of Italian small and medium-sized enterprises.”
Just last month, BNP Paribas Securities Services started operations in Mexico, providing daily accounting and valuation services as well as tax pricing and regulatory reporting.
