Nextalia completed the acquisition of a 60% stake in First Advisory from Riello Investimenti for $105m.

Nextalia, a private equity firm, completed the acquisition of a 60% stake in First Advisory, a tech platform for distributing insurance solutions for the European wealth management sector, from Riello Investimenti for $105m. "The acquisition of First Advisory – the second transaction announced by Nextalia in just a few weeks – is fully aligned with our investment strategy. Led by a strong management team, First Advisory is a pre-eminent insurtech player and services with strong technological content and high growth potential. I am delighted that Nextalia will support a market leader in business First Advisory in this new phase of growth by providing access to resources to invest in technology, human capital and acquisitions, also thanks to Nextalia's distinctive network of relationships and the support of our Strategic Advisory Board," Francesco Canzonieri, Nextalia CEO.