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Private Equity FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 12 SOURCES

EQUITA Capital SGR

Asset management company of EQUITA Group (listed Italian investment bank), subject to its direction and coordination EQUITA Group

Also known as Equita Capital SGR, EQUITA Capital Società di Gestione del Risparmio S.p.A., Equita Capital SGR S.p.A.

Milan multi-asset SGR of EQUITA Group managing private debt, private equity ELTIF, renewable infrastructure and liquid strategies for institutional and retail investors.

HEADQUARTERS
Milan, Italy
FOUNDED
2019
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
10 people

FOCUS

STAGES
GrowthBuyout
SECTORS
Industrial & ManufacturingFood & AgricultureConsumer & E-commerceClimate & EnergySoftware & SaaS
ASSET MIX
Private creditPrivate equityPublic equities
GEOGRAPHY
ItalyGermanyAustriaSwitzerlandSpain

WHAT IT IS

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

ABOUT

EQUITA Capital SGR was set up in 2019 as the asset management company of EQUITA Group, an independent Italian investment bank listed on Euronext STAR Milan. It manages closed-end private debt funds that finance private-equity-sponsored acquisitions of SMEs in Italy, the DACH region and Spain, the EQUITA Smart Capital ELTIF, which takes controlling or qualified minority stakes in Italian SMEs, and the EQUITA Green Impact Fund, which invests in solar, wind and biogas assets. It also runs managed accounts, flexible funds and a closed-end fund for listed Italian small caps.

INVESTMENT THESIS

Private debt: senior unitranche and HoldCo PIK financing alongside private equity sponsors for M&A, buy-and-build and shareholder reorganisations of export-oriented SMEs in Italy, DACH and Spain (no start-ups, financials or real estate). Private equity: expansion and replacement capital and MBO/MBI in Italian SMEs, including generational transitions and pre-IPO growth.

PORTFOLIO (20)

  • CovisianNOTABLE
    since 2020
  • L’Isolante K-FlexNOTABLE
    Industrial & Manufacturing · since 2017
  • Demeglio
    Consumer & E-commerce · since 2025
  • Over
    since 2024
  • EME
    Industrial & Manufacturing · since 2024
  • Digital 360
    Software & SaaS · since 2023
  • Clonit
    since 2022
  • Rattiinox
    Industrial & Manufacturing · since 2022
  • Beat Group
    Media & Entertainment · since 2025
  • Fornaio del Casale
    Food & Agriculture · since 2025
  • Operamed
    since 2025
  • MIR
    since 2024
  • IREX
    Food & Agriculture · since 2024
  • Solana
    Food & Agriculture · since 2024
  • Cadica
    Consumer & E-commerce · since 2024
  • Crippa
    Industrial & Manufacturing · since 2020
  • Onetag
    Software & SaaS · since 2022
  • COC Farmaceutici
    since 2016
  • Cogein Castelpagano
    Climate & Energy · since 2026
  • Cogein Rapone
    Climate & Energy · since 2026

TEAM

  • Stefano Lustig
    Chairman · source
  • Paolo Pendenza
    CEO, Head of Private Debt · source
  • Matteo Ghilotti
    Executive Vice Chairman, Head of Liquid Strategies · source
  • Rossano Rufini
    Managing Partner, Head of Private Equity · source
  • Balthazar Cazac
    Managing Partner, Head of Renewable Infrastructure (EGIF) · source
  • Bekim Krasniqi
    Partner, Private Debt · source
  • Nicolò Sagramoso
    Partner, Private Debt · source
  • Anna Paola Moroni
    Partner, Private Equity · source
  • Ludovico Filotto
    Managing Partner, EGIF · source
  • Nasir Nathoo
    Managing Partner, EGIF · source

LINKS

FAQ

EQUITA Capital SGR is a private equity fund based in Milan, Italy, founded in 2019.

Yes. EQUITA Capital SGR invests directly in private companies.

EQUITA Capital SGR invests at Growth and Buyout stages in Industrial & Manufacturing, Food & Agriculture, Consumer & E-commerce, Climate & Energy and Software & SaaS.

EQUITA Capital SGR's stated ticket size is €7M–€30M.

Key people at EQUITA Capital SGR include Stefano Lustig (Chairman), Paolo Pendenza (CEO, Head of Private Debt), Matteo Ghilotti (Executive Vice Chairman, Head of Liquid Strategies) and Rossano Rufini (Managing Partner, Head of Private Equity).

EQUITA Capital SGR's investments include Covisian, L’Isolante K-Flex, Demeglio, Over, EME, Digital 360, Clonit and Rattiinox, among others.

The most recent publicly reported investment by EQUITA Capital SGR is Progetto Cerano (90 MW solar PV, Brindisi) (Acquisition of ready-to-build project (EQUITA Green Impact Fund)), announced in Sep 2026.

Yes. EQUITA Capital SGR manages capital from outside investors.