{"id":1521,"date":"2017-03-24T16:24:00","date_gmt":"2017-03-24T15:24:00","guid":{"rendered":"https:\/\/www.progressiosgr.it\/progressio-in-raccolta-per-progressio-investimenti-iii-con-un-target-a-225-milioni-di-euro\/"},"modified":"2025-12-02T12:41:58","modified_gmt":"2025-12-02T11:41:58","slug":"progressio-raising-225m-for-fourth-fund","status":"publish","type":"post","link":"https:\/\/www.progressiosgr.it\/en\/news\/progressio-raising-225m-for-fourth-fund\/","title":{"rendered":"Progressio raising \u20ac225m for fourth fund"},"content":{"rendered":"\n
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London, March 24, 2017 \u2013 Progressio SGR, the Italian private equity firm, today announces that it is raising a new fund, Progressio Investimenti III, in response to LP demand and a doubling of proprietary deal flow over the past five years.<\/p>\n <\/div>\n \n

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Progressio will raise \u20ac225m for a final close at the end of 2017, after a summer first close. As with previous funds, the money will predominantly be spent on proprietary deals and primary buyouts.<\/p>\n

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The management team, which has averaged a 6.5x entry EBITDA multiple across its portfolio of prestige domestic brands like luxury fashion retailer Moncler, high-end furniture company Giorgetti, and Sanlorenzo Yacht, is targeting exit returns of more than 2.5x from each portfolio company, over three-to-five year horizons, with significant upside potential.<\/p>\n

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Progressio investee businesses are typically exemplars of Italian mid-market excellence, which are developed into dominant players in their respective markets through organisational restructuring (Italchimici generic pharmaceuticals), branding & expansion into new markets (Moncler jackets and coats), and a bolt-on strategy (Chromavis cosmetics and Duplomatic hydraulics). They each have revenues of between \u20ac30 million and \u20ac150 million.<\/p>\n

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Investors in London, Paris, Frankfurt and other European financial centres have been attracted to Progressio\u2019s distinctive returns and model for success in a weak Italian economy. The company\u2019s 16 home-grown realisations have produced 3.5x MOIC and an 80% gross IRR, in the context of zero GDP growth.<\/p>\n

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Cebile Capital is acting as advisor and placement agent.<\/p>\n

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Filippo Gaggini, Progressio Managing Partner, commented: \u201cWe already have a strong pipeline of new deals and look forward to growing our network of talented Italian entrepreneurs and managers.\u201d<\/p>\n

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Sunaina Sinha, Managing Partner of Cebile Capital, said: \u201cWhen you see what this group has achieved over the past decade, in difficult economic circumstances, it\u2019s not a surprise that LPs around Europe view Progressio as a haven amid the continent\u2019s political turbulence. They operate above the market but sensibly. We expect over-subscription.\u201d<\/p>\n <\/div>\n <\/div>\n \n

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“Progressio SGR announces that it is raising a new fund, Progressio Investimenti III, in response to LP demand and a doubling of proprietary deal flow over the past five years.”<\/blockquote>\n \n <\/div>\n <\/div>\n <\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-1521","post","type-post","status-publish","format-standard","hentry","category-press"],"acf":[],"yoast_head":"\nProgressio raising \u20ac225m for fourth fund | Progressio SGR<\/title>\n<meta name=\"description\" content=\"Read \u201cProgressio raising \u20ac225m for fourth fund\u201d and stay up to date on the latest developments at Progressio SGR\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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