Investire SGR (Banca Finnat Group) acquires 100% of Natissa SGR from Bain Capital

• With this transaction, the SGR takes over the management of five new funds mainly focused on residential assets, with more than 700 residential units under development, thereby strengthening its leadership in the living segment.
• Among the funds managed by Natissa is the Bistrot fund, which owns an area within the ExTrotto project – where the construction of approximately 600 housing units is planned – as well as the Bistolfi 31 residential complex in Lambrate, where work is nearing completion on approximately 170 newly built apartments.

Milan, 15 December 2025 – Investire SGR (Banca Finnat Group) announces the acquisition of 100% of Natissa SGR, a company founded by Bain Capital, to invest in the Italian real estate markets.

The transaction, carried out through the acquisition of the entire share capital of Natissa SGR, enables Investire to further strengthen its partnerships with international institutional investors. Among them is Bain Capital itself, which will now establish a direct relationship with the SGR as a unitholder of the funds previously managed by Natissa.

With this acquisition, Investire SGR increases its assets under management and consolidates its leadership in the living sector, taking over the management of five new funds mainly focused on residential projects, totaling around 700 residential units under development and significant capex investment.

In particular, the Bistrot Fund, in addition to nearly completing the development of the c 15,000 sqm of Bistolfi 31 in Lambrate, with 172 residential units, also promotes an initiative within one of Milan’s major urban regeneration projects: the redevelopment of the Ex Trotto area, which includes the construction of approximately 600 housing units.

In the transaction, Investire was assisted by the law firm PedersoliGattai for contractual and regulatory matters, by Studio Arquilla for tax-related aspects and by EY Studio Legale Tributario for tax due diligence. Bain Capital was assisted by LinkLaters as legal counsel, Toffoletto De Luca Tamajo e Soci for labour law assistance and EY Advisory as financial advisor. Claudio Caruso Notary & founding partner of Caruso Andreatini & Notai Associati, handled the notarial aspects of the transaction.

“This transaction represents a strategic step in strengthening our presence in the residential segment, with a particular focus on urban regeneration projects. In this context, the Ex Trotto initiative in Milan is a key component of our commitment to developing high-quality housing solutions and enhancing local areas,” says Alessandro Polenta, the new CEO of Natissa SGR and Managing Director of Investire SGR.

“The acquisition of Natissa SGR confirms Investire SGR’s strategy of growing through external lines, synergistically integrating assets and development plans that reinforce our management platform. We are also very pleased to establish a direct relationship with a leading investor such as Bain Capital, with whom we look forward to sharing new real estate investment opportunities in Italy,” comments Michele Beolchini, Head of Product Development & Fundraising at Investire SGR.

“We are proud to have launched and developed Natissa into a specialist real estate platform focused on value creation in Italian housing,” said Javier Ortigosa, Operating Partner on Bain Capital’s asset management team. “We are confident that Investire’s deep expertise in residential and urban regeneration will enable the next phase of growth for the assets and teams we’ve cultivated, and we look forward to continuing the relationship as an investor alongside them.”