• Edizione S.p.A. (Benetton family holding) has agreed to merge its private capital activities with Milan-based Tages Capital SGR and Alessandro Benetton’s 21 Invest, creating a new company called 21 Next.
• 21Next will manage around €3 billion, with Edizione holding the majority stake.
• The Benetton family aims to triple assets under management to €10 billion within five years.
• Tages, founded in 2011 by Panfilo Tarantelli, has invested €1.4 billion in renewable energy, infrastructure and energy transition, and has recently launched a credit fund.
• Governance: Alessandro Benetton (61) will serve as Chairman of 21Next; Panfilo Tarantelli (70) will be CEO.
• 21Next will pursue both organic growth and further consolidation in private capital.
• Edizione believes its industrial background positions it well to improve operational performance in portfolio companies.
• Edizione will inject €500 million as seed capital for 21Next.
• Over the last two decades, the Benetton family has shifted its focus from retail to infrastructure, acquiring stakes in motorways and airports.
• Current infrastructure assets include motorways in Latin America, the US and India, and airports such as Nice Côte d’Azur.
• The family sold World Duty Free to Dufry in 2015 and sold Autogrill in 2023.
