A consortium including CVC Capital Partners, PSP Investments and StepStone Group completed the acquisition of FIMEI, a holding company which owns 51.8% of Recordati, a listed Italian pharmaceutical business, for €3bn. "We are honoured to be chosen by the Recordati family who have put great trust in us to continue in their role as the majority shareholder of their company. We have a great admiration for the business which we have known for over many years since Giovanni Recordati was CEO. We are excited by the opportunity to support this excellent management team, led by Andrea Recordati who we have asked to remain as CEO and who carries on the company's legacy and provides the continuity of the business and its strategy alongside Fritz Squindo, Recordati’s Managing Director and CFO," Giampiero Mazza, Head of CVC Italy.