A new alternative investment firm, 21 Next, has been launched with roughly €3bn (£2.6bn) in assets under management by Edizione, the €14bn Benetton family’s holding company.
The new platform will focus on private markets, including private credit, private equity, venture capital and infrastructure in Europe.
Once the transaction completes, 21 Next will own two Italian private markets managers: 21 Invest and Tages. The founding shareholders of both businesses, along with their senior management teams, will roll over minority stakes into the new entity.
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Alessandro Benetton, founder of 21 Invest, has been appointed chair of 21 Next, while Panfilo Tarantelli, one of the founders of Tages, will take on the role of chief executive.
Edizione will commit €500m in seed capital to support the new firm’s initiatives, with 21 Next aiming to more than double its assets under management to over €10bn in the coming years.
The new platform will operate through a wholly owned asset management company, combining 21 Invest’s work in private equity and venture capital with Tages’s expertise in energy transition, infrastructure and private credit.
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Tages, founded in 2011 by Tarantelli, Sergio Ascolani and Salvatore Cordaro, manages approximately €1.4bn and has deployed more than €3bn in capital. Originally focused on renewable energy and energy-transition strategies, the firm has since launched the Tages Credit Fund and is preparing to roll out Tages Infra Plus, a new mid-market value-add infrastructure vehicle.
Meanwhile, 21 Invest manages €1.5bn and has invested more than €2bn in the growth and industrial expansion of over 110 Italian and French small to medium-sized enterprises since inception.
The transaction is expected to close by summer 2026, subject to regulatory approvals.
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