ITALY Trends and Developments
Trends and Developments Contributed by: Emidio Cacciapuoti, Giorgio Bobba and Davide Massiglia ADVANT Nctm ADVANT Nctm Studio Legale’s investment funds practice in Italy offers expertise in legal, regula - tory and tax matters. The firm advises clients that are active in all sections of the funds mar - ket, including private equity, real estate, venture capital, debt, infrastructure funds, credit funds and funds of funds. Its lawyers provide assis - tance on fund formation for sponsors/manag - ers, fund reviews for investors, on carried inter - est, incentive schemes and co-investment plan
structuring, reorganisations and spin-outs, sec - ondary transactions, private equity house merg - ers, fund governance, transaction structuring and fund-level finance arrangements, including investor call, equity bridge, co-investment and warehousing facilities. The team has unrivalled experience in the Italian market, having assisted a number of general partners acting in different sectors on their most recent fundraising and structuring initiatives.
Authors
Emidio Cacciapuoti is a partner at ADVANT Nctm Studio Legale, and focuses on the tax and regulatory aspects of funds, alternative investment fund structures and carried interest
Giorgio Bobba is a counsel at ADVANT Nctm Studio Legale, and focuses his practice on banking and finance, particularly on advising corporate and commercial enterprises on the
schemes. He obtained an LLM cum laude in International Taxation from Leiden University, and is a member of the Tax and Legal Committee of AIFI and the International Tax Working Group of Invest Europe. He serves as a member of the board of directors of Italian AIFMs. He co-authored the chapter on “Fund structuring in Italy” in “Global Tax Considerations in Private Fund Formation” (Private Equity International, 2016) and is the author of the AIFI book on “Fundraising in Private Equity – Terms and conditions” (Egea, 2016).
regulations governing financial intermediaries and the financial markets. He has developed specific knowledge of financial derivatives and ISDA transactions, and has a wealth of experience in private equity and venture capital transactions, project finance, investment in primary and secondary markets, market abuse and tender offers. He is admitted to the Milan Bar and serves as a member of the board of directors and as company secretary of Italian AIFMs and financial intermediaries.
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