- OpenEconomics is an Italian firm supporting institutions and large companies in the design of policies and investments in the sustainability space. The company leverages its know-how and complex socioeconomic models to assist its clients in assessing the impact of their decisions and in accessing public funding programs on the energy transition.
- Algebris Green Transition Fund will acquire a stake of around 40%, with the objective of executing an ambitious industrial plan focused on organic growth via the expansion of solutions and the development of innovative digital products.
Milan, 16 May 2024 – Algebris Investments announces the completion of an investment in OpenEconomics S.r.l. (“OpenEconomics”), through its private equity fund dedicated to sustainable investments, Algebris Green Transition Fund (the “Fund”), by means of an acquisition of shares from current shareholders and a capital increase. The Fund’s objective is to create the leading national player in the analysis of sustainable investment policies and their economic, social and environmental impacts through the application of advanced economic analysis tools and innovative digital platforms, supported by machine learning and generative AI technologies.
OpenEconomics, founded in Rome in 2013, is regarded as one of the most relevant players in the socio-economic analysis segment within the Italian landscape. The company supports institutions and large companies in the evaluation of policies and investment projects in the sustainability space and in the access and deployment of public funds for the energy transition.
Leveraging on a robust set of economic models and with best-in-class international evaluation practices, OpenEconomics supports its clients throughout every stage of the investment process, including market outlook analysis, definition of key performance indicators, focusing on the evaluation of economic, social and environmental impact, as well as monitoring and reporting. In this space, OpenEconomics has developed an extensive track record performing complex analyses for institutions and private companies in over 30 countries and in a wide range of sectors, such as electricity distribution and transmission, gas infrastructure, telecommunication networks, transport and water infrastructure, sport, culture, public sector, real estate, manufacturing and research.
The impact assessment analysis conducted by OpenEconomics is highly complementary to the company’s public funding activity. In this context, the company supports its clients through end-to-end solutions that encompasses analysis of the funding gap, ensuring compliance with state aid regulations, offering technical support in the application and contract negotiation phases, and assisting with subsequent reporting and audit phases.
In the current context of geopolitical instability, climate change and evolving transition policies, understanding market evolution becomes more complex as risks arising from uncertainty increase. Therefore, access to advanced tools both for the rigorous assessment of investment decisions and for the mitigation of the associated risks becomes essential. For this reason, Algebris Investments has decided to enter this pivotal market segment in which OpenEconomics has demonstrated its ability to respond effectively, independently and transparently to the new demand for socio-economic analysis and public funding.
The transaction, structured by means of a share purchase and subsequent capital increase, will result in a stake of around 40% in the company. The investment is intended to support the company’s future growth trajectory outlined in its business plan, for which the main objectives are the development of advanced solutions in the transition risk analysis for the financial sector, as well as the expansion of the offer through Software-as-a-Service tools.
Luca Valerio Camerano, Senior Partner of the Fund and Managing Director of Algebris, said:
“We are excited for this investment in a sector that we consider strategic and with high growth potential. Companies like OpenEconomics, which operate in the field of non-financial analysis with relevant technical expertise, play a crucial role in supporting companies and institutions as they face the challenges of the future. This is particularly important in the context of the changes imposed by the European Union’s Corporate Sustainability Reporting Directive (CSRD). Companies will need increasingly structured skills to analyse their data and understand the impact of their activities. OpenEconomics, with its innovative digital solutions and experience, is ideally positioned to provide this support”.
Gianluca Calvosa, co-founder and Head of development of OpenEconomics adds: “We are excited to have Algebris partnering with us at a point in time where we believe we can accelerate our growth. We are confident that this relationship will create value for the company and its investors, but most importantly for our clients and employees”.
Raffaele Nardone, co-founder and CEO of the company adds: “The financial resources made available by Algebris’ investors will enable new opportunities for the development of models, technologies and human capital. At the same time, Algebris brings a deep understanding of global markets and can help us expand our customer base in our target sectors”.
In the acquisition, the Algebris Green Transition Fund team, led by Senior Partner Francesco Becchelli, was assisted by the Grimaldi Alliance team as legal advisor, Epyon Consulting for financial due diligence, Studio Tributario De Iure for tax due diligence, Ambiente Italia for ESG due diligence, Cefriel for IT due diligence, and Prof. De Carolis for due diligence on economic models. In the acquisition, the selling shareholders were assisted by the lawyer Mauro Baldissoni and the M&A team of Tonucci & Partner for all legal aspects of the transaction and by Dr. Mario Calvosa for the tax aspects.
