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FSI SGR

FSI SGR

Milan, Italy·Founded 2016··fondofsi.it

FSI SGR is a Milan-based growth-capital asset manager created in 2016 out of the reorganization of Fondo Strategico Italiano, led by founder and CEO Maurizio Tamagnini. It runs two growth-equity funds, FSI I at 1.4bn EUR and FSI II at 1.6bn EUR, and backs mid-to-large Italian leaders across financial services, consumer and luxury, healthcare, industrials and technology, taking minority and control positions to fund growth and consolidation. Notable investments include Cedacri, Kedrion, Missoni, Nice, Cerved, Bancomat, Numia and Casalasco.

AUM
€3.5B
Funds
2
vintages 2017–2023
Portfolio
8
Exits
5

Key facts

HQMilan, Italy
Founded2016

Recent exits

Lynx
Lynx
IT Services2025 · 4yr hold
Adler Pelzer Group
Mobility2022 · 4yr hold
Kedrion
Pharma2022 · 3yr hold
Lumson
Industrials2022 · 4yr hold

Coverage notes

2 funds tracked, 13 portfolio companies (8 active · 5 realized). Verified weekly from public filings and deal announcements.

Sector breakdown

13 companies
Fintech
3 · 23%
Consumer
2 · 15%
Financials
1 · 8%
Construction
1 · 8%
SaaS
1 · 8%
Mobility
1 · 8%
Data & Analytics
1 · 8%
Pharma
1 · 8%

Funds & portfolio

Every fund FSI SGR has raised, with its portfolio companies. Hand-checked from public filings.

2 funds
FSI IIGrowth
2023 · 3yr€1.6B6 active

Unrealized

6 held
FinancialsItaly· Entry 2023
Bancomat
BancomatActive
FintechItaly· Entry 2023
CasalascoActive
ConsumerItaly· Entry 2025
Nice
NiceActive
ConstructionItaly· Entry 2023
Numia
NumiaActive
FintechItaly· Entry 2023
Retex
RetexActive
SaaSItaly· Entry 2024
FSI IGrowthHarvesting
2017 · 9yr€1.4B2 active · 5 realized

Unrealized

2 held
Cerved
CervedActive
Data & AnalyticsItaly· Entry 2021
Missoni
MissoniActive
ConsumerItaly· Entry 2018

Realized

5 exits
Adler Pelzer GroupExited 2022
MobilityItaly· Entry 2018
MBOto
CedacriExited 2021
FintechItaly· Entry 2017
Trade Saleto
KedrionExited 2022
PharmaItaly· Entry 2019
Secondaryto
LumsonExited 2022
IndustrialsItaly· Entry 2018
MBOto
Lynx
LynxExited 2025
IT ServicesItaly· Entry 2021
MBOto
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Last updated July 2026 · Sourced from public filings · Report an issue