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Francesco Trapani joins Tages Holding with a 9% stake

Friday, December 02, 2016
Opalesque Industry Update - Francesco Trapani enters the capital structure of Tages Holding with a 9% participation through a reserved capital increase. He will also join Tages Holding Board together with the current shareholders: Umberto Quadrino, Panfilo Tarantelli, Sergio Ascolani and Salvatore Cordaro and Lorenzo Bini Smaghi, as independent director.

Trapani began his career as Chief Executive Officer of the Bvlgari Group in 1981. In 1984 he developed successfully a strategy based on product diversification, expansion of the distribution channels and significant investments in communication. He led Bvlgari’s transformation from a simple Italian jewelry brand to one of the leading multi-product global players in the luxury market, with a turnover of over €1 billion, 4,000 employees and 300 direct stores worldwide.

The steady growth generated underpinned the listing of Bvlgari (in Milan and London) in 1995 and then, in 2011 the integration with the LVMH Group, where Francesco Trapani acted as Chairman of the Watches and Jewelry Division as well as being a member of the Board of Directors of the LVMH Group and advisor to Bernard Arnault.

Trapani subsequently joined Clessidra SGR S.p.A., one of the leading private equity firms in Italy, as Chairman until last September.

With the addition of Trapani, Tages Holding will benefit from a high profile professional with a unique entrepreneurial experience and private equity skillset.

TagesHolding currently includes: 1) one of the leading asset managers in Europe active in hedge fund, seeding, UCITS and risk premia businesses with over €2 billion AUM, located in London; 2) the infrastructure fund, Tages Helios, which recently become the third biggest operator in the solar power business in Italy, managing a portfolio of 157 MW (megawatts) and 3) Credito Fondiario one of Italy’s top players in management and servicing of distressed and illiquid credit, currently engaged as advisor to Atlante on NPL transactions with a gross Book Value in excess of €30bn.

“We are excited that a high profile entrepreneur like Francesco Trapani has decided to invest in Tages – stated Tages Holding founder and CEO Panfilo Tarantelli – as it demonstrates the attractiveness of our partnership which is built around outstanding professionals with a strong commitment to the business. I believe that the addition of Francesco to our partnership will add momentum to our growth path”.

“I look forward to bringing my experience and entrepreneurial spirit to work closely with the founders of Tages Holding – said Francesco Trapani, Tages Holding’s future Executive Vice President– I am pleased to be joining a group of such talented professionals that I have long held in high regard, The strong growth and constant evolution of Tages is truly impressive and I look forward to contributing in the future”.

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