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21 Investimenti II closes on 280m24/09/2008. Source: AltAssets. 
 Italian mid-market private equity firm 21 Investimenti, part of 21 Group, has closed its latest fund, 21 Investimenti II, on over 280m, well above its initial 200m. The fund was launched in April 2007 and held a first closing in November 2007 on 150m.
More than half the commitments came from non-Italian institutions including pension funds, banks, insurance companies, funds of funds and family offices. A total of 26 LPs are in the fund, 15 of them are new.
21 Investimenti II has already completed two transactions: the LBO of GPP Industrie Grafiche, an Italian business operating in the luxury cardboard packaging sector, and the spin-off of Valbart, an Italian manufacturer and distributor of ball valves for the oil and gas and petrochemical industries, from Group Velan.
21 Group chairman Alessandro Benetton said, 'The closing of this fund is a great success and marks an important milestone in the development of the 21 Group. I am very grateful for the strong support of our existing investors as well as the increasing involvement of new international investors. We view this recurring interest as a strong endorsement of our active ownership strategy and a consequence of having delivered on our promise to generate superior returns by building leading companies. All those valuable contributions will allow us to pursue the most compelling opportunities and to create long-term value for our investors.'
21 Investimenti invests into companies with an enterprise value in the range of 50-250m.
21 Group, led by Benetton and Gιrard Pluvinet, manages around 1bn of assets. 21 Centrale Partners, the French arm of the group, will launch its fourth private equity fund over the coming months.
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