A ports and shipping investment club has been launched in Italy. Called Vsl Club, the new investment vehicle is led by Fabrizio Vettosi and Ciro Russo, who also control private equity fund and shipping advisory firm Venice Shipping & Logistics. Club members already include some very active names in Italian shipping circles including Icr Industrie Cosmetiche Riunite, Gdb Investimenti, Vittorio Bogazzi & Figli, Fiart Cantieri Italiani, Ciro Russo, Saar Depositi Portuali and Marinter Shipping Agency.
A club deal, also referred to as a syndicated investment, is a transaction where a number of private equity groups provide capital for the acquisition of a target that is larger than any one party could execute on their own.
Club deals allow private equity firms to compete for acquisition targets that were once only available to larger strategic acquirers, while reducing risk exposure to any one member at the same time.