42
D
E
A C
APITAL
- R
EPORT
ON
O
PERATIONS
REGISTERED OFFICE:
Italy
SECTOR:
Private Equity
WEBSITE:
www.ideasgr.com
IDEA EFFICIENZA ENERGETICA E SVILUPPO SOSTENIBILE
(IDEA ENERGY EFFICIENCY AND SUSTAINABLE DEVELOPMENT)
IDeA EESS
INVESTMENT DETAILS:
IDeA EESS is a closed-end fund under Italian
law, for qualified investors, which began
operating on 1 August 2011 and is managed
by IDeA Capital Funds SGR.
On 14 October 2016, DeA Capital S.p.A.
completed the acquisition from M&C of all the
units and associated rights held by the latter
in the IDeA Efficienza Energetica e Sviluppo
Sostenibile fund, managed by IDeA Capital
Funds SGR, for a price of EUR 5.35 million.
This represents a discount of approximately
20% on the value of the units, as estimated
according to the latest report available on the
transaction date.
The units comprising the transaction, equal
to 15.1% of the total size of the fund, will
be added to the stake already held by DeA
Capital S.p.A. in the fund (15.3%), increasing
its total stake to 30.4%.
As a result of the acquisition, DeA Capital
S.p.A. has taken on the residual commitments
for the payment of capital that may be called
up on the units involved in the transaction, up
to a maximum of EUR 5.0 million.
BRIEF DESCRIPTION:
IDeA EESS, which has total commitments of EUR
100 million, is a closed-end mutual fund under
Italian law, for qualified investors, which seeks
to acquire minority and controlling shareholdings
in unlisted companies in Italy and abroad, by
investing jointly with local partners.
The fund is dedicated to investing in small
and medium-sized manufacturing and service
companies operating in the field of energy saving
and the efficient use of natural resources. It
focuses on the development of solutions that
make faster and cheaper use of renewable energy
sources without compromising effectiveness in
reducing CO2 emissions.
At 31 December 2016, IDeA EESS had called up
76.3% of the total commitment and distributed
33.6% of that commitment, after making eight
investments (of which seven were still in the
portfolio at that date).
Fund size:
100 million
Euro