(Alliance News) - After Cassa Depositi e Prestiti Spa, controlled by the Ministry of Economy, exited from the capital of the Fsi Spa fund, headed by CEO Maurizio Tamagnini, in the shareholding structure of the fund that is bidding to be a sort of national champion in the fintech and payments system sector now pops up the ION galaxy of financier Andrea Pignataro, with holdings in England, Ireland and Luxembourg.

As Smartmag writes, in fact, from a Chamber of Commerce visura of Fsi, the presence of ION Capital Partners jumps out. As per the deed filed last May, iThe Bolognese financier's group, which has been operating for years in the London headquarters at 10 Queen Street, has also become a shareholder of the fund led by Maurizio Tamagnini.

ION bought out 9.9 percent from Magenta 71, the main shareholder of the state fund, of which it now holds 90.1 percent.

As the online newspaper recalls, last year was a particularly busy period for Fsi's shareholding structure: on July 2022, through share buybacks, Magenta 71 acquired 39 percent from CDP Equity and the 9.9 percent held by Poste Vita. On November 10 of the same year, Fsi's shareholders' meeting cancelled and cancelled all treasury shares without reduction of capital.

ION has been particularly active in the last two years, taking over Cedacri, Cerved, List and entering Cassa di Volterra, along with Net Insurance Spa of Poste Italiane Spa and Banca del Fucino, with about 32 percent of the capital. It also detiees 9.8 percent of illimity Bank Spa and 2 percent of Banca Monte dei Paschi di Siena Spa.

In addition, talks have been ongoing for months with Prelios, a group active in the management of problem loan portfolios, controlled by Burlington Loan Management, an Irish-registered investment vehicle managed by Davidson Kempner Capital Management. For this highly leveraged operation, ION is knocking on the doors of major Italian banks, with Intesa Sanpaolo Spa reportedly in the process of deliberating a loan to Pignataro's group, according to Start Magazine rumors.

https://www.startmag.it/economia/ion-pignataro-fsi/

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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