Pamplona PE increases UniCredit stake to 5%
Private equity firm Pamplona Capital Management, has increased its stake in Italy’s biggest bank UniCredit to 5%, becoming the second-biggest shareholder of the bank after Aabar Investments.
The investment was completed by Pamplona’s Global Financial Institutions €1bn fund.
The company already held 1.99% of the Italian bank and the 5% stake has a market valuation of about €700m.
Aabar Investments, the Abu Dhabi sovereign wealth fund, owns 6.5%, the Central Bank of Libya has a 4.99% stake and two Italian banking foundations own less than 4% each.
Pamplona was founded by Alex Knaster in 2005 and has three funds managed by 12 professionals, according to the company website.