Banca Ifigest, the subsidiary Soprarno takes over Angelo Moratti's Mip

Banca Ifigest finds a new ally in Angelo Moratti and completes its range of activities. The transaction, which is subject to Bank of Italy authorisation, involves the acquisition of 100% of Milano Investment Partners (Mip) from Soprarno Sgr by Banca Ifigest. Selling 100% of the company will be Angel Capital Management (ACM), the investment holding company founded and chaired by Angelo Moratti. The boards of directors of the two companies yesterday gave the go-ahead for the deal and at the same time the board of Banca Ifigest, in turn, resolved to proceed with a capital increase dedicated to the MIP acquisition.

L&B Capital Sgr will be created from the union of the alternative investment fund management company specialised in venture capital that belongs to Moratti and Banca Ifigest's asset management company, with total assets under management estimated at around EUR 2 billion.

At the same time Angelo Moratti will enter the capital of Banca Ifigest, becoming one of its main private shareholders with a 4.65% stake, and will take over as chairman of L&B Capital Sgr, through a dedicated capital increase. "With Angelo Moratti's entry into the bank's capital and the birth of L&B Capital SGR, we are ready to embark on a new chapter in our long history. This operation strengthens our leadership position in private banking and opens up new opportunities for growth in key sectors, such as alternative investments and green transition, as well as extraordinary finance operations," comments Gianni Bizzarri, Chairman of Banca Ifigest.

Banca Ifigest's Sgr, following the integration with L&B Partners last July, had launched its first private equity initiative in July 2024, with the launch of the fund dedicated to energy transition, IRR (Italian Renewable Resources), of which Angelo Moratti was seed investor. The fund has already raised EUR 240 million from private investors and family offices, with a target of raising EUR 280 million by the end of the year. "I had the opportunity to meet Flavio di Terlizzi in the saras days for some operations in renewables. I am delighted to find him again in this new adventure with a focus on energy transition in which he will bring his experience in renewables and I will bring mine to the more traditional energy market," emphasises Angelo Moratti, who will also make his international network available to the new Sgr.

The operation on the Mip front was overseen by CEO Gianluca Gorlani, who will be in charge of the group's wealth management division: "With the creation of L&B Capital Sgr and the entry into a banking platform, Mip is institutionalising itself by creating the conditions for launching new initiatives and investments in the world of alternative investments and ecological transition. Our combined competences will allow us to seize the most interesting opportunities while aiming at new ambitious goals'.