Capital Dynamics, an independent global asset manager, has entered into a definitive agreement to acquire all of the shares of Advanced Capital SGR, a leading alternative asset manager and fund-of-funds manager based in Milan, Italy. Terms of the transaction were not disclosed.
Advanced Capital SGR, founded in 2004, currently manages generalist private equity as well as real estate and energy fund-of-funds.
Martin Hahn, CEO of Capital Dynamics, said: “Advanced Capital is a proven and successful asset manager in Italy and shares our culture and investment philosophy. Once completed, this acquisition will deliver a broader array of private markets solutions to Italian investors and further demonstrate our strategy of growth through a strong commitment to important regional markets and investors.”
Robert Berlé, CEO of Advanced Capital SGR, commented: “Capital Dynamics’ global business will complement Advanced Capital’s success in the Italian market. We see a significant opportunity to bring together the strengths of the two firms to market our existing products and offer regional and global solutions which will deliver further value to Italian clients and investors.”
Advanced Capital founder, Robert Tomei, added: “I am truly excited about what the future holds for the company and the opportunities that Capital Dynamics will bring to serving the firm’s expanding client base.”
Capital Dynamics continuously monitors for opportunities to enter new markets and geographies. The firm sees attractive prospects in Italy and believes that there is a compelling opportunity to offer its products and strategies to a wider pool of investors in this market. With this transaction, the management team strongly believes it has identified a business that is well positioned to meet the needs of Italian clients and to leverage an innovative and tailored approach to private investment strategies globally.
The transaction is expected to close in Q3 2018 and is subject to customary closing conditions and approval by applicable regulatory authorities.