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ENPACL commits to new EUR 2 billion EIF Asset Management Umbrella Fund for European SMEs

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    Date: 28 March 2018

Ente Nazionale di Previdenza e Assistenza per i Consulenti del Lavoro (ENPACL), the Italian Pension Fund for Labour Consultants, announced today a EUR 90 million commitment into the Asset Management Umbrella Fund (AMUF) advised by the European Investment Fund (EIF).

The new EUR 2 billion Asset Management Umbrella Fund will help to increase the amount of risk capital available for investment activity in Europe, whilst maximising investments from institutional sources over the next three years.

ENPACL will enter as an anchor investor and their investment within less than six months since the launch of AMUF brings the total committed under the fund to EUR 315 million. Investors into AMUF include European Institutional Investors (Insurance Companies, Pension Funds) and Sovereign Wealth Funds.

John Holloway, Chairman of the AMUF Board of Managers commented: “I am pleased to welcome the commitment of ENPACL into the AMUF in a matter of months after the launch of the fund. The launch and development of the Asset Management Umbrella Fund is the result of a strong partnership between EIF and our investors and jointly we have designed this new initiative for the benefit of European SMEs.”

Commenting on the signature, ENPACL President Alessandro Visparelli said: "AMUF is a unique proposition that EIF offers to Institutional Investors and is a major step in our efforts to support the real economy.  ENPACL finds in AMUF and in the EIF a perfect alignment of interests and partnership approach towards accessing the best Private Equity deals in Europe”.

The new Asset Management Umbrella Fund offers unparalleled access to the best performing managers within the European SME market garnered from EIF’s 20 year commitment and market developmental role. The new fund benefits from EIF’s proven expertise of delivering double digit returns and allows institutional investors to allocate their resources according to their individual risk/return profile.

About the European Investment Fund

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses by helping them to access finance. EIF designs and develops both venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

About ENPACL

The Ente Nazionale di Previdenza e Assistenza per i Consulenti del Lavoro (ENPACL) is an Italian private entity established in 1971 under the law n. 1100. ENPACL is responsible for providing assistance and paying pensions to labour consultants under the applicable norms identified by the Ministry of Labour and Ministry of Economy and Finance. The strategic decisions of ENPACL are implemented via its statutary bodies, namely: (i) the Delegates’ Assembly, representing all ENPACL’s members, (ii) the Board of Directors (BoD), (iii) the President, who is elected by the BoD, and (iv) the Collegio dei Sindaci which is composed by 3 members elected by the Ministries, and one elected by the Delegates’ Assembly. As of 31/12/2017, ENPACL’s AUM amount to EUR 1,06bn.

About the Asset Management Umbrella Fund

The Asset Management Umbrella Fund (AMUF) is a multi-compartment, multi stage and multi-strategy fund established in Luxembourg. The objective of the AMUF is to offer to investors a broad exposure to a diversified pool of investment funds focussed on EU SMEs, notably in venture capital and private equity. The first three compartments of the AMUF are European Growth Capital, European Technology Venture Capital and European Life Sciences Venture Capital which are   respectively targeting investment funds focusing on generalist growth capital strategies, technology (such as ICT) venture capital strategies and life sciences venture capital strategies. The AMUF is reserved to professional investors. It was incorporated on the 17 October 2017 as a corporate limited partnership and registered as a reserved alternative investment fund with the CSSF on the 23 November 2017.

Press contacts:

EIF:
David Yormesor

Tel.: +352 426688346
e-mail: d.yormesor@eif.org

ENPACL:
Rosalba Berlingeri 
Tel.: +39 0651054501
e-mail: rosalba.berlingeri@enpacl.it

For more business related information:

EIF:
Alessio Conforti
Tel.: +352 248581832
e-mail: a.conforti@eif.org

 

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