Primonial REIM, a key player in European real estate asset management, and Quinta Capital Partners S.r.l. finalised the closing of a structured transaction which provides for the entry of Primonial REIM into the share capital of Quinta Capital SGR S.p.A., an asset management company based in Milan, active in promoting and managing alternative regulated investment funds in the real estate, credit and private equity sectors and in providing a wide spectrum of asset management services.
The transaction contemplates the merger by incorporation within the SGR of Primonial REIM Italy S.p.A., the current asset management company operating in Italy of Primonial REIM.
The transaction, approved by the Bank of Italy in August 2023, fully reflects the strategies of the involved parties:
- for Primonial REIM, the pursuit of the development of its pan-European real estate platform through the strengthening of its Italian activities aimed notably at achieving a more efficient industrial management,
- for Quinta Capital, the start of an expansion path and institutionalization of the company founded in 2016 by Luca Turco.
As a result of the transaction, Quinta Capital SGR S.p.A will be renamed in “Primonial REIM Italy SGR S.p.A.”.
The governance structure at Primonial REIM Italy SGR consists of Luca Turcomaintaining his position as CEO and Laurent Fléchet, the CEO of Primonial REIM, continuing to serve as a board member at Primonial REIM Italy SGR.
In the context of the transaction, Primonial REIM Italy SGR took over the management of three real estate funds and a SICAF already operating in Italy and previously managed by Primonial REIM through the license passport.
You can now read the full press release at the link below