Riello Investimenti Partners completed the acquisition of a majority stake in First Advisory.

Riello Investimenti Partners, an Italian private equity investment firm, completed the acquisition of a majority stake in FirstAdvisory, an independent platform specialized in the distribution of insurance products. Financial terms were not disclosed. "We see important investment potential and because we have always been convinced that those companies, with a good DNA and with a capable and motivated management team, are able to create development and value too in conditions like the current ones and First Advisory is certainly to be counted among these. In a such a particular and demanding moment, in which we find ourselves working and operating in a situation totally unusual, completing an investment transaction is a positive message for the future, demonstrating that support for the real economy, at small and medium-sized Italian enterprises and the productive fabric of our country can and must continue, even and especially in times of difficulty," Nicola Riello, Riello Investimenti Partners President.