Investing in private equity with Arca Fondi
The Italian private equity market closed 2025 with 887 transactions, up 21% from the previous year, with a total amount invested of €11.6 billion (Source: AIFI-PwC). This is a mature market with significant transaction volumes even in periods of more selective fundraising, reflecting a structural trend: institutional and private investors are increasingly seeking exposure to segments of the real economy that are not generally accessible through traditional mutual funds, including unlisted companies, growth-stage SMEs and highly specialised sectors.
Private equity funds invest in unlisted companies or listed companies with relatively low market capitalisations, adopting medium to long-term investment horizons and aiming to generate returns that may exceed those available from liquid asset classes, while accepting structurally lower liquidity.
In Italy, approximately 80% of transactions involve SMEs with revenues below €50 million, representing a broad entrepreneurial ecosystem that remains underrepresented in most investment portfolios and offers attractive opportunities for experienced investors and asset managers able to identify high-quality businesses.
For investors seeking meaningful portfolio diversification rather than marginal exposure, Italian private equity currently represents one of the most significant areas in which to allocate a portion of their assets.
Arca Fondi manages two dedicated private markets vehicles, each with a distinct yet complementary focus on the Italian corporate ecosystem.
Arca Fondi Private Capital Funds
Arca Space Capital
Private Equity for Italian Excellence
Arca Space Capital is the private equity fund promoted by Arca Fondi SGR in partnership with Space Capital Advisors, focusing on leading Italian mid-market companies: SMEs characterised by strong fundamentals, distinctive competitive positioning and the ability to generate sustainable long-term value.
The fund has committed capital of €205 million and an eight-year investment horizon, acquiring both majority and minority equity stakes in selected target companies.
Since inception, the fund has completed investments in:
These investments represent approximately two thirds of the capital raised. The fund is currently continuing the deployment of its portfolio.
Arca Sviluppo Italia
Private Equity Supporting Listed Italian SMEs
Arca Sviluppo Italia is Arca Fondi SGR's closed-end Alternative Investment Fund (AIF) dedicated to listed Italian small and medium-sized enterprises.
The investment strategy follows a bottom-up approach based on fundamental analysis, focusing on small and mid-cap companies with robust fundamentals, competitive advantages and structural growth prospects.
The fund pursues a dual objective:
Arca Sviluppo Italia operates within the framework of the Fondo Nazionale Strategico Indiretto (FNSI), a compartment of the Patrimonio Rilancio initiative established by the Italian Ministry of Economy and Finance and managed by Cassa Depositi e Prestiti (CDP), with a seven-year investment horizon.
A strategic allocation
Diversification
Exposure beyond traditional listed asset classes and access to underrepresented segments.
Long-term growth
Participation in the development of high-quality Italian businesses and SMEs.
Real economy
Capital that supports innovation, expansion and the competitiveness of Italian companies.
Since 1983, We Have Added Greater Value to Your Investments
Arca Fondi offers investment solutions focused on Italian private markets, providing investors with access to private equity opportunities designed to diversify portfolios beyond traditional listed asset classes and gain exposure to the growth potential of the Italian real economy.
Source: Arca Fondi SGR, Private Markets webpage, accessed 10 August 2026.
