By Hedge Fund Insight staff
Francesco Trapani has acquired a 9% equity stake in Tages Holding by means of a dedicated capital increase, to be approved by Bank of Italy. Francesco Trapani, is the former CEO of the Italian jeweler and luxury goods retailer, Bulgari, and is credited with the turnaround of the business. Trapani acts as an advisor to LVMH (Moet Hennessy Louis Vuitton) and is Chairman of (and is a shareholder in) Elystone Capital SA, a Geneva-based wealth manager.
Tages Holding controls three subsidiary companies: Credito Fondiario, one of Italy’s main non-performing loans servicing platform; the infrastructural investment fund management firm Tages Capital SGR; and London-based funds of hedge funds, alternative UCITS funds and multi-manager investment management firm Tages Capital LLP. Tages Capital has been the largest seeder of new hedge funds in Europe in the last three years. It is not known in which of the Tages business lines Trapani is particularly interested.
Tages Holding has four current shareholders – Panfilo Tarantelli, Sergio Ascolani, Salvatore Cordaro and Umberto Quadrino.
Tages Holding current shareholders were assisted by Anna Di Vilio from Studio Galante e Associati. Italian corporate and financial law firm Gattai Minoli Agostinelli & Partners advised Francesco Trapani on the acquisition.