China-Italy Industrial Cooperation Fund Launched
NEWS AGENCY：
Xinhua News Agency
DATE OF NEWS:
October 5, 2020
On October 5, 2020, Italian lender UniCredit announced the launch of the China-Italy Industrial Cooperation Fund (CIICF) in partnership with private equity firm Investindustrial and with the China Investment Corporation (CIC).
The CIICF has an initial capital of 600 million euros (about 700 million U.S. dollars), fully underwritten by Investindustrial, the CIC and UniCredit, and it will invest primarily in Italian mid-market companies. Investindustrial, a leading European investment firm mainly focusing on Southern Europe, is the sole investment manager of the new fund.
CIICF will seek to invest in Italian and Southern European companies aspiring to open new pathways for growth in China, mainly in attractive sectors including advanced manufacturing, business services, consumer goods and services, healthcare, etc.
Established in 2007, CIC is a vehicle to diversify China's foreign exchange holdings and seek maximum returns for its shareholder within acceptable risk tolerance. UniCredit is one of the most important commercial banks in Italy.
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