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Clessidra-backed Anima to float up to 40%

18 Feb 2014

milan_lrgPrivate equity-backed Anima Holding is reportedly looking to offer a 40 stake in its fund management business Anima SGR on the Milan stock market in April.

The deal is expected to be worth €1.37bn, said Reuters, citing two sources close to the operation.

One of the people said that the float will be between 30 and 40 percent and “the aim is to reach a valuation of more than €1bn.”

Private equity firm Clessidra owns a 37 per cent stake in Anima, which is also backed by Banca Popolare di Milano and Banca Monte dei Paschi di Siena, which own stakes of 35 per cent and nearly 23 per cent, respectively.

The Anima group saw its revenues surge more than 30 per cent to €220m last year.

Back in November Clessidra decided to reduce the size of its latest fund by €300m to €1.1bn after holding discussions with LPs.

The decision had to do with concerns that the firm may not be able to deploy the entire fund before the investment period ends in the last quarter of 2014, according to a report by Bloomberg.

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