Orlando Italy Capital was structured to achieve three objectives:
1. Offer an exit to investors in Orlando Italy’s first fund seeking liquidity
2. Acquire the minority interests in Favini, the global leader in casting release for eco-leather and synthetic materials and a portfolio company in the first fund
3. Make new investments in Special Situations in Italy, including financial and operating turnarounds
Paolo Scarlatto, Managing Partner of Orlando Italy, said: “We have been working diligently to develop a strong portfolio of companies in our first fund. As we exit these over the coming months, Orlando Italy Capital will allow us to take advantage of the attractive opportunities we are seeing in Italian special situations. The fund’s innovative feature, developed by Bluetower, was a secondary component. By offering liquidity to existing investors, Bluetower addressed the reality of LP’s changing circumstances within the constraints of a traditional limited partnership.”
Tim Griggs, Managing Partner of Bluetower Associates, said “Orlando Italy Capital provides unique access to Italian special situations. The secondary component – acquiring interests in Orlando Italy’s first fund – gives new investors immediate exposure to a mature portfolio. Going forward, they will have access to new deals executed by one of Italy leading sector specialists.”
Bluetower Associates LLP acted as exclusive placing agent.
Bonelli Erede Pappalardo acted as legal counsel to Orlando Italy.
Linklaters acted as legal counsel to Fortress.