Exclusive: Neuberger Berman creates Italian PE team

Private equity firm Neuberger Berman has created an Italian private equity team after forming a strategic partnership with Italian bank Intesa Sanpaolo.

The deal will create a Milan-based team allowing Neuberger Berman to pursue direct investments in Italian companies.  Marco Cerrina Feroni and Fabio Canè and several members of their merchant banking and private equity operations team at Intesa Sanpaolo have joined Neuberger Berman along with Stefano Bontempelli, a former managing director of Neuberger Berman's European private equity team, who has rejoined the company.

The three will become senior partners and be part of the Global Private Equity division at the firm, which is headed up by Anthony Trutone, global head of Neuberger Berman private equity.

The move comes following a strategic partnership created by the two companies on 21 April 2015. 

Cerrina said: “[Neuberger Berman's] strong heritage in private equity fits well with our 20 years of experience at Intesa Sanpaolo in this asset class and will provide continuity and support to our operations in the Italian market.”

Canè said: “We believe it is an attractive time to pursue our strategy of investing in leading growth-oriented export-driven multinational companies and are excited to leverage the Neuberger Berman and Intesa Sanpaolo platforms to create value for our partners,” said Fabio Canè.

Intesa Sanpaolo's General Manager, head of Corporate and Investment Banking Gaetano Miccichè added: “The partnership with Neuberger Berman allows Intesa Sanpaolo to meet its strategic objectives while continuing to maintain an indirect presence in private equity and a source of capital to the economy.”

Tutrone commented, “We are delighted to partner with Intesa Sanpaolo and to welcome Marco, Fabio, Stefano and their colleagues to our team that now includes more than 85 private equity investment professionals in the U.S., Europe and Asia. This transaction fits Neuberger Berman's strategy to geographically broaden and deepen our investment capabilities and is a helpful step to meet our clients' growing allocations to Private Equity.” 

New York headquartered Neuberger Berman manages a total of over $250 billion of assets, of which $25bn are made up of commitments across primary, secondary and direct investments.