IGI Private Equity
Also known as Iniziativa Gestione Investimenti SGR S.p.A., IGI SGR, IGI
Milan private equity manager (SGR) founded in 1998 doing majority leveraged buyouts of Italian B2B manufacturing SMEs; current fund is the Article 8 IGI Sustainable Transition Fund (2024).
- HEADQUARTERS
- Milan, Italy
- FOUNDED
- 1998
- AUM
- —
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 10 people
Focus
- STAGES
- Buyout
- SECTORS
- Industrial & Manufacturing
- ASSET MIX
- Private equity
- GEOGRAPHY
- Italy
Overview
Iniziativa Gestione Investimenti SGR (IGI Private Equity) was founded in 1998 by Interbanca and has been independent and partner-controlled since 2006. It acquires majority stakes in Italian, mainly manufacturing, B2B companies through leveraged buyouts, with a focus on automation and Industry 4.0. Its funds include IGI Investimenti Sei (final close €170M in March 2020) and the Article 8 IGI Sustainable Transition Fund launched in 2024; in 2013 it acquired Arca Impresa Gestioni SGR and took over two of its funds.
Investment thesis
Majority leveraged buyouts of Italian, mainly manufacturing, B2B companies with leadership in an export-oriented niche, exposure to long-term structural trends, focus on automation and Industry 4.0, growth plans including add-on acquisitions, and generational change or managerial needs; target return 2.5–3.0x invested capital.
PORTFOLIO (16)
- WeBladeNOTABLEIndustrial & Manufacturing · since 2026
- RollonNOTABLEIndustrial & Manufacturing
- CerantolaIndustrial & Manufacturing · since 2025
- FaccinIndustrial & Manufacturing · since 2025
- MeterIndustrial & Manufacturing · since 2024
- ThermoKeyIndustrial & Manufacturing · since 2024 · Exited (sold to Vertiv, completed June 2026)
- Matec IndustriesIndustrial & Manufacturing
- TramecIndustrial & Manufacturing
- Gruppo OMEIndustrial & Manufacturing
- Test IndustryIndustrial & Manufacturing
- NuovaplastIndustrial & Manufacturing · since 2019 · Exited
- BracchiMobility & Logistics · Exited
- VimecIndustrial & Manufacturing
- FimoIndustrial & Manufacturing
- BlumenFood & Agriculture
- Fabbri VignolaIndustrial & Manufacturing
People
- Matteo CirlaSenior Partner and CEO · source
- Angelo MastrandreaSenior Partner · source
- Paolo MerlanoSenior Partner and CFO · source
- Giorgio CirlaChairman (Presidente) · source
- Andrea BruschiPartner · source
- Federico CellinaInvestor Relator · source
- Andrea SironiDirector · source
- Giorgio PivantiSenior Investment Manager · source
- Alessandro CastiglioniInvestment Manager · source
- Fabio TorazziInvestment Manager · source
Links
Frequently asked questions
IGI Private Equity is a private equity fund based in Milan, Italy, founded in 1998.
Yes. IGI Private Equity invests its own capital in private companies.
IGI Private Equity invests at Buyout stage in Industrial & Manufacturing.
IGI Private Equity's stated ticket size is €20M–€50M.
Key people at IGI Private Equity include Matteo Cirla (Senior Partner and CEO), Angelo Mastrandrea (Senior Partner), Paolo Merlano (Senior Partner and CFO) and Giorgio Cirla (Chairman (Presidente)).
IGI Private Equity's investments include WeBlade, Rollon, Cerantola, Faccin, Meter, ThermoKey, Matec Industries and Tramec, among others.
The most recent publicly reported investment by IGI Private Equity is WeBlade (DOM and C-Blade) (Buyout (IGI Sustainable Transition Fund)), announced in Jul 2026.
Yes. IGI Private Equity manages capital from outside investors.