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 Turco maintaining 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.
Henceforth, Primonial REIM Italy SGR represents a total Asset under Management of over 1 billion Euro; eight reserved real estate funds, a team of 20 employees based in Milan with strong expertise in the various fields of real estate.
The new SGR, while maintaining its range of skills on the various real estate asset classes (hospitality/tourism, office, residential) and with an investment policy that ranges from core to value add, will at the same time become the main Italian asset management player in the healthcare sector, a hot and constantly growing segment among alternative investments.
Laurent Fléchet, Chairman & CEO of Primonial REIM, stated “I am delighted with this transaction with Quinta Capital, which reinforces our footprint in Italy in various asset classes with an expanded local team that has in-depth knowledge of real estate and its specificities in Italian market. Through this deal, we are continuing to develop new investment opportunities for our investors while leveraging synergies between our local entities established in Italy, France, Germany, Luxembourg, the UK and Singapore.”
“We are extremely satisfied with the entry of an asset manager of international standing in the capital of the SGR – said Luca Turco, Chief Executive Officer of Primonial REIM Italy SGR – and with the opportunities that will arise from being part of Primonial REIM platform. This transaction, with a high industrial value, bears witness to the reputation and reliability of Quinta on the market and will give us the opportunity to face a further growth path”.
Primonial REIM has been assisted by DLA Piper Studio Legale Tributario Associato for legal and tax aspects, CBA Studio Legale e Tributario for regulatory matters, CMS for labor law matters and by KPMG for accounting and financial aspects, while Quinta has been assisted by Alma Società tra Avvocati for the legal and regulatory aspects and by BDO Advisory Services for the accounting and financial aspects.
