Private Equity FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 9 SOURCES

21 Tages

Infrastructure, energy-transition and private debt arm of the 21 NEXT platform, 55% owned by Edizione (Benetton family holding), closed 3 Sept 2026 Edizione (via 21 NEXT)

Also known as Tages Capital SGR, Tages Capital SGR S.p.A., Tages, Tages Group

Milan alternative asset manager (Tages Capital SGR, founded 2011) running renewable-energy, energy-transition, infrastructure and private debt funds; over €1.5bn AUM; part of 21 NEXT.

HEADQUARTERS: Milan, Italy
FOUNDED: 2011
AUM: €1.5B (2026)
OUTSIDE CAPITAL: Yes
TEAM LISTED: 6 people

FOCUS

STAGES: GrowthBuyout
SECTORS: Climate & Energy Mobility & Logistics Industrial & Manufacturing
ASSET MIX: Private equityPrivate creditImpact
GEOGRAPHY: ItalyEurope

WHAT IT IS

Private Equity Fund. A fund manager investing limited-partner capital into mature private companies.

ABOUT

21 Tages is the brand of Tages Capital SGR, the Milan manager founded in 2011 by Panfilo Tarantelli, Sergio Ascolani and Salvatore Cordaro, with Umberto Quadrino joining in 2014. Since 2015 it has raised the Tages Helios renewable-energy funds (€253m and €477m), Tages Helios Net Zero (€554m, SFDR Article 9) and Tages Credit Fund (€145m, Italian SME private debt), and in 2026 launched the generalist infrastructure fund Tages Infra Plus. The site reports more than €1.5bn of assets under management (data as of 2 September 2026) and about 1 GW of installed renewable capacity. Since September 2026 it is part of 21 NEXT with 21 Invest, under Edizione's majority ownership.

INVESTMENT THESIS

Build and hold assets that decarbonise the real economy with stable cash flows: solar, wind, biomethane, storage and e-mobility run by captive operating companies; value-add mid-cap infrastructure across energy, transport, digital and social assets; senior, unitranche and subordinated loans to non-cyclical Italian companies in a 15–20 position portfolio.

PORTFOLIO (11)

IPlanetNOTABLE
Mobility & Logistics · since 2024
Delos PowerNOTABLE
Climate & Energy · since 2016
Global Solar Fund
Climate & Energy
Metania
Climate & Energy
Alkemy Group
Software & SaaS · since 2026
Gridcore Group
Industrial & Manufacturing · since 2025
Epipoli
Fintech · since 2025
Latteria e Caseificio Moro
Food & Agriculture · since 2025
La Piadineria
Consumer & E-commerce · since 2024
L&S Group
Industrial & Manufacturing · since 2024
Siare Engineering International Group
HealthTech · since 2024 · Repaid

TEAM

Panfilo Tarantelli
Founder & Group CEO · source
Umberto Quadrino
Executive Board Member, CIO Infrastructure · source
Daniele Spada
Executive Board Member, General Manager · source
Carlo Michelini
Executive Board Member, Senior Partner, CIO value-added mid-cap infrastructure · source
Paolo Galli
Executive Board Member, Senior Partner · source
Pietro Pacchione
Board Member, Senior Partner (renewables and storage platform) · source

FAQ

21 Tages is a private equity fund based in Milan, Italy, founded in 2011.

Yes. 21 Tages invests directly in private companies.

21 Tages invests at Growth and Buyout stages in Climate & Energy, Mobility & Logistics and Industrial & Manufacturing.

Key people at 21 Tages include Panfilo Tarantelli (Founder & Group CEO), Umberto Quadrino (Executive Board Member, CIO Infrastructure), Daniele Spada (Executive Board Member, General Manager) and Carlo Michelini (Executive Board Member, Senior Partner, CIO value-added mid-cap infrastructure).

21 Tages's investments include IPlanet, Delos Power, Global Solar Fund, Metania, Alkemy Group, Gridcore Group, Epipoli and Latteria e Caseificio Moro, among others.

The most recent publicly reported investment by 21 Tages is EV Asset Holding (IPlanet) (Increased stake via Tages Helios Net Zero (holding owning 50% of IPlanet)), announced in Dec 2025.

Yes. 21 Tages manages capital from outside investors.