The F2i board of directors has approved the bylaws governing investments, investor compensation and governance. The managing director, Vito Gamberale, stressed the importance of certain clauses giving the Fund financing tools in operations relating to the infrastructure sector, mainly in Italy.
The general meeting of the founding shareholders of the asset-management company F2i has decided to increase the number of members of its board of directors. Subsequently the board met and managing director Vito Gamberale described the bylaws that will be approved at a forthcoming board meeting, when the technical refinements have been completed.
The group of shareholders managing F2i is being expanded with the participation of the international banks Lehman Brothers and Merill Lynch. The asset-management company’s board of directors, chaired by Salvatore Rebecchini and Managing Director Vito Gamberale has formalized the two international banks, which are joining the two major Italian banks – Unicredit and Intesa Sanpaolo – and the new international sponsors.
Salvatore Rebecchini and Vito Gamberale, chairman and managing director of the asset-0management company that runs F2i, introduced the Fund in Acri. Gamberale stated that the minimum package for underwriting share sin the Fund will be 10 million euros, collectively accessible even for multiple Foundations so long as they are combined into a vehicle company.
Leading institutional partners of Italian finance, together with the country’s major credit institutions and foreign-affairs banks, are promoting the creation of F2i. Objective: establishing a Fund with an endowment of 2 billion euros. The primary sponsors will be: savings and loans, system of banking foundations, Unicredit, Intesa Sanpaolo. Foreign financial institutions will also be present.