Amber Capital has recently launched Amber Equity Fund, which is a UCITS version of the Amber Italia Equity Fund. The Amber Equity Fund, managed by Amber Capital Italia SGR, is a Milan based asset management company regulated by the Bank of Italy. It was created by Joseph Oughourlian, founder of the Amber Capital Group.
The new Luxembourg UCITS Amber Equity Fund has been subscribed to by existing investors in the Amber Italia Equity fund, all Italian institutional investors and the management at Amber Group.
As described in their recent press release, “Amber believes that launching a UCITS fund will provide the opportunity to raise further assets, not just in Italy but in Europe and in the rest of the world as well. The target remains professional institutional investors. Amber Capital Italia SGR will be the distributor for the fund and intends to file with CONSOB (through the CSSF) the notification to offer the shares of the fund in Italy and eventually to passport it in other European countries. The aim is to grow the fund from about USD80m to USD150m in the following six months and to USD250m in the following 18 to 24 months.”
As Mr. Oughourlian said, “I am very proud of the launch of the Amber Equity Fund as it further strengthens our commitment to Italy, a country in which we strongly believe and where we have been present for many years. We are also confident that transforming the Amber Italia Equity fund into a UCITS fund will widen our investor base.”