Anima Alternative SGR
Wholly owned private-markets SGR of Anima Holding; part of the Banco BPM banking group and subject to Banco BPM's direction and coordination Anima Holding S.p.A. (Banco BPM group)
Also known as Anima Alternative, ANIMA ALTERNATIVE SGR SPA, Anima Alternative Sgr S.p.A.
Milan SGR of the Anima group (Banco BPM) managing closed-end direct lending and hybrid capital funds for Italian SMEs and mid-caps, reserved to professional investors.
- HEADQUARTERS
- Milan, Italy
- FOUNDED
- 2020
- AUM
- —
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 8 people
Focus
- STAGES
- GrowthBuyout
- ASSET MIX
- Private credit
- GEOGRAPHY
- Italy
Overview
Anima Alternative SGR was set up in early 2020 and authorised by Banca d’Italia in July 2020 as the private-markets management company of the Anima group, which has been part of Banco BPM since April 2025. It manages three Italian closed-end funds reserved to professional investors: Anima Alternative 1 (direct lending with about 20% minority equity), Anima Alternative 2 (diversified senior direct lending) and Anima Alternative Growth (credit and hybrid capital). Investments target Italian SMEs and mid-caps with up to 3,000 employees and use senior, unitranche, mezzanine, preferred equity and minority equity instruments.
Investment thesis
Long-term financing and capital strengthening for Italian SMEs and mid-caps (up to 3,000 employees, revenue up to €500M) through debt instruments, minority equity or a combination of both, selected on fundamental analysis of the industrial project with ESG analysis in the process.
PORTFOLIO (24)
- MissoniNOTABLEConsumer & E-commerce · since 2026
- JakalaNOTABLEMedia & Entertainment · since 2021
- ReleviConsumer & E-commerce · since 2026
- ZatoIndustrial & Manufacturing · since 2025
- Golmar Italiasince 2025
- Hofisince 2026
- Conformgestsince 2025
- BV TechSoftware & SaaS · since 2025
- Gridcoresince 2025
- Dea / ELMO GroupIndustrial & Manufacturing · since 2025
- EurovetrocapIndustrial & Manufacturing · since 2025
- Gourmet Italian FoodFood & Agriculture · since 2025
- PiovanIndustrial & Manufacturing · since 2025
- Grandi Stazioni Retailsince 2025
- Garofalo Healthcaresince 2024
- VenpaIndustrial & Manufacturing · since 2024
- P&P GroupIndustrial & Manufacturing · since 2023
- BracchiMobility & Logistics · since 2023
- Hippocrates Holdingsince 2023
- ImpresoftSoftware & SaaS · since 2022
- W Groupsince 2021
- LumsonIndustrial & Manufacturing · since 2022 · Exited
- Neopharmed Gentilisince 2022 · Exited
- CemeIndustrial & Manufacturing · since 2021 · Exited
People
- Livio RaimondiChairman (independent) · source
- Giampiero SchiavoCEO · source
- Philippe MinardChief Investment Officer · source
- Andrea CappuccioDeputy Chief Investment Officer · source
- Giorgio PoddaInvestment Director · source
- Riccardo DoreInvestment Director · source
- Marta ColmegnaInvestment Manager · source
- Andrea MandraccioHead of Sales · source
Links
Frequently asked questions
Anima Alternative SGR is a private equity fund based in Milan, Italy, founded in 2020.
Yes. Anima Alternative SGR invests its own capital in private companies.
Anima Alternative SGR invests at Growth and Buyout stages in Industrial & Manufacturing, Consumer & E-commerce and Software & SaaS.
Anima Alternative SGR's stated ticket size is €2M–€20M.
Key people at Anima Alternative SGR include Livio Raimondi (Chairman (independent)), Giampiero Schiavo (CEO), Philippe Minard (Chief Investment Officer) and Andrea Cappuccio (Deputy Chief Investment Officer).
Anima Alternative SGR's investments include Missoni, Jakala, Relevi, Zato, Golmar Italia, Hofi, Conformgest and BV Tech, among others.
The most recent publicly reported investment by Anima Alternative SGR is Missoni S.p.A. (Investment by Anima Alternative Growth fund), announced in May 2026.
Yes. Anima Alternative SGR manages capital from outside investors.