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21 Group to move outside France and Italy(2)

The Benetton family investment group has hired Cédric Abitbol to grow its business outside its domestic markets.

21 Group, an investment holding company, is planning to expand its activities outside of Italy and France.

It has hired Cédric Abitbol, who previously worked with the placement firm Capstone Palomar Partners and with Unigestion, a Geneva-based fund of funds.

To date 21 Group has operated two teams in France and Italy, targeting mid-market deals. 21 Centrale Partners in France, managed by Gérard Pluvinet, raised its third private equity fund this year. The team recently sold its investment in Century 21 and completed the acquisitions of Vulcanic, Batisanté and Interflora.

21 Investimenti in Italy, founded by Alessandro Benetton, is raising its latest private equity fund early next year and will continue to focus on mid-market transactions. The team just completed an investment in Gruppo Pellegrini, a service provider to the food industry in Italy.

Details of 21’s expansion plans were not available.