Investindustrial closed a €1.5 billion lower‑mid‑market private‑equity fund in just four months, topping its €1.25 billion target. The new vehicle eclipses the €1.1 billion fund raised in 2023 and will focus on southern European companies for seasoned investors.

Existing investors supplied €1.25 billion of the capital, while an additional €250 million came from new backers in North America, Asia and the Middle East. Chairman Andrea Bonomi said the firm capped the fund to preserve discipline and keep the focus on deal makers rather than chasing scale.

Bonomi, heir to an Italian industrial dynasty, has steered deals with Aston Martin, Ducati and Zegna. The firm’s lower‑mid‑market strategy has already delivered 20 platform investments and 80 add‑on acquisitions worldwide, especially in food and consumer sectors such as dairy, confectionery, and fresh produce.

The rapid raise underscores a split in the market between large asset gatherers and focused players who build better companies. With geopolitical shocks tightening exit routes, investors are tightening criteria, favoring firms with sector expertise and regional dominance for long‑term value.