The team

Complementary backgrounds for an interchangeable and effective response to investee companies needs

Founding Partner and Managing Director

He joined the team in 1993 and is engaged on the fund general management, investment analysis and portfolio companies supervision. He holds an MBA (1993) from SDA Bocconi, Milan and a degree in Business Administration (1988) from the same university. Prior to joining he was part of the corporate finance department of the Ferruzzi Group. Mr Mangano is the Chairman & Co-Ceo.

Founding Partner and Managing Director

He joined in 2000. He is mainly devoted to investment analysis and portfolio company management. He holds an MBA (2000) from SDA (Bocconi University), Milan and a degree in Mechanical Engineering from the University of Genoa (1991). Prior to joining the team he was a plant manager within the Shell Group and before a project engineer in the Ansaldo Group. Mr Prestigiacomo is the Co-Ceo.

Founding Partner

Mr Calabrò joined in January 2008 and is in charge of investment execution and the management of portfolio companies. Mr Calabrò holds an MBA from INSEAD (2002) and a degree in Mechanical Engineering from the University of Genoa (1994).
Mr Calabrò started his career as a product manager at ABB Corporate Research (Milan) before moving to Alstom Power. In 2003 he moved to Tenova S.p.A (part of the Techint Group) where he was a Business Development Director responsible for leading the Strategy and M&A department.

Partner

Mr Piras joined in July 2018 and is charge of the management of portfolio companies. Mr Piras holds a BBA from Bocconi University (1996).
Prior to joining the Team, he was Managing Director of Eco Eridania SpA (a Fund V portfolio company) and CEO of Mengozzi Rifiuti Sanitari SpA. He previously spent several years as Director of PriceWaterhouseCoopers Advisory SpA where he worked in the M&A advisory team. Prior to this he was part of the Investment Banking team of Efibanca SpA and spent two years with IMI Sigeco SIM.

Director & Partner

Mr Civita joined in October 2019 and is charge of the management of portfolio companies. Mr Civita holds an MBA from INSEAD (2015) and a degree in business administration from ESCP Business School (2010).
Prior to joining the Team, he was Senior M&A Manager in Enel X where he was responsible for origination and execution of M&A deals of the Enel group subsidiary focused on the energy transition, electric mobility and smart cities solutions. He previously spent 5 years as a management consultant for Booz & Company based in Milan, Doha and Jakarta. Prior to this he was an analyst in 4D Global Energy Advisors, a French Private Equity firm based in Paris.

Director

Mr Banfi joined in May 2019 and supports investment execution and the management of portfolio companies. Mr Banfi holds a degree in business administration from Bocconi University (2014).
Prior to joining Xenon, Mr Banfi was part of the M&A and Business Development team at Luxottica, where he worked on the combination and integration with Essilor. He joined Luxottica through a graduate program which involved job rotations in sales and marketing divisions. Prior to Luxottica he worked as a financial analyst in GE Capital.

Partner

Mr Zanotelli joined in 2024 as Partner and is responsible for the analysis of investments and the management of portfolio companies. He holds a Master’s degree in International Management from CEMS (London School of Economics and Vienna University of Economics, 2009) and a Master in International Business Administration from the University of Economics of Vienna (2009). Mr Zanotelli started his career in the M&A department of J.P. Morgan, first in London and then in Frankfurt. He worked for the German PE fund DBAG for nine years, managing majority and minority investments in several sectors. Furthermore, he started the Italian activities of such fund, closing their first local deal. Later, he worked as Partner for Alpha Private Equity in the Milan office, managing participations in Italy and Germany.

Partner

Mr Adorni joined in 2022 and is a Partner in charge of deal origination. Mr Adorni holds a degree in Finance from Bocconi University (2006) and a MBA from New York University Stern Business School (2012). Prior to joining the team Mr Adorni was a partner at Crossinvest and Cube8, a corporate finance advisor in Lugano where he was responsible for advising on several acquisitions by private equity funds in Italy. At the beginning of his career he spent a couple of years in private equity at Argan in Milan.

Co-Managing Director Small Cap Fund

Mr Mantero joined in 2019 and is Xenon Small Cap Co-Managing Director. He holds a Monetary Economics degree from Bocconi University (1993).
Prior to joining Xenon Mr Mantero spent five years at Ninja Investments, a club deal platform focused on direct equity investments into small innovative Italian B2B service companies. Before that Mr Mantero was an executive director at Vestar Capital Partners, a US private equity fund, where he worked for more than nine years in their Milan office investing into mid-large Italian companies. Before Vestar Capital Partners Mr Mantero was an investment banker with Merril Lynch in New York, London and Milan.

Co-Managing Director Small Cap Fund

Mr Bruzzichesi joined in joined in 2019 and is Xenon Small Cap Co-Managing Director. Mr Bruzzichesi graduated in 1995 in Business Administration at La Sapienza University in Rome and started his career at INA, one of the largest insurance companies in Italy.
In 1998 Mr Bruzzichesi moved to Milan to join Private Equity Partners, one of the first Italian PE Fund where he eventually became executive director. In 2014 Mr Bruzzichesi started arranging club deals in the microcap sector and formed Ninja Investments in partnership with Michelangelo Mantero.

Senior Investment Manager

Mr Gasparini joined in 2021 as senior investment manager. Mr. Gasparini graduated in 2008 in management engineering – specialty finance – from the Milan Politecnico. He initially spent 5 years in Quadrivio, eventually as senior analyst and then in 2014 he moved to DeA Capital as associate. In 2016 he moved to Assietta Private Equity as investment manager.

Xenon FIDEC Founder & Managing Director

Mr Dal Fabbro has more than thirty years of international managerial experience. He is currently Chairman of IREN SpA.
He has been Chairman of Snam SpA, EPS SA, Tamini Trasformatori SpA and CEO of Enel Energia SpA, E.On Italia SpA, GRT Group SA and Inso SpA.
He is today vice president of the Circular Economy Network and co-founder of the Organization for the Climate and Circular Economy in Brussels. He is, also, Co-Founder and Chairman of the ESG European Institute.
Mr Dal Fabbro holds a Master Degree in Chemical Engineering from Sapienza University, Rome, a bachelor degree in International relations from Brussels University and an Advanced Management Degree from the MIT, Boston.

Senior Director, Xenon FIDEC

Mr Georg von Kriegsheim has more than 20 years of experience in M&A advisory in the utilities and infrastructure sectors. He has worked 5 years in transaction services at Ernst & Young and 3 years in the M&A division of E.ON AG Group (Thüga AG). For 12 years he managed M&A, project development and asset management in the renewable energy sector in Italy, Germany and UK working on behalf of private equity funds.
He holds an MBA in Economics from Technische Universität Berlin and LUISS Rome and a Certified Public Accountant qualification from New Hampshire, USA

Senior Director, Xenon FIDEC

Mr Paolo Ferrario joined in 2022 and has more than 20 years of experience in private investments and business advisory mainly. He has worked 5 years in two large industrial groups, 8 years in operations consultancies with Accenture and 12 years in arranging co-investments and club deals in Italy with Capital Dynamics and with his own firm.
He holds a MBA in Business Administration from Milan Politecnico and a degree in mechanical engineering from the same university.

Senior Associate in Xenon FIDEC

Alberto Salvi, Associate in Xenon FIDEC, joined in 2022. Mr Salvi started his career in investment banking at Aream in London in 2019.
He holds a degree in economics at Bocconi University, Milan and a Master in Science in International Finance at HEC Paris

Conducting Officer & Head of Compliance

She joined in 2022 and is the Conducting Officer in charge of compliance. She graduated in economics at the Strasbourg University in 2013 and earned a Master in Finance at the Luxembourg School of Finance. During her careeer she covered several positions in the private equity world, within InvestIndustrial, Aerium and MV Credit.

Conducting Officer and head of valuation

He joined in 2020 and is the Conducting Officer in charge of valuation. He graduated in Business Management at the Università Cattolica, Milan in 1996 and holds an MBA too. During his career he held various managerial positions in the finance function within large international groups, CIR, Carlo Gavazzi and Festival Cruise among the others.

Investment Manager

She joined the team in 2023 as investment manager. She graduated in business administration at Bath University in 2016. She spent then 7 years at M&G investments in London, lately as head of ESG research and analysis.

Senior Associate in Xenon FIDEC

Mr Lener has been part of the team since 2024 and holds the position of Senior Associate at Xenon FIDEC. He graduated with honors in Corporate Finance from LUISS Guido Carli University and is a Chartered Accountant and Statutory Auditor. He began his career in the Italian investment banking team at Credit Suisse in 2018, and since 2019 he has worked at VERTEQ Capital, a private equity investment holding company, where he followed transactions in various sectors and also served as a member in the Board of Directors.

Xenon AIFM S.A.in-house origination approach is mainly performed thanks to the cooperation with the affiliate Investment & Advisory S.A., that can count on 4 professionals with more than thirty years’ experience in the corporate advisory field.

Susanna Ciapponi

Accounting

Maxime Zdun

Reporting

Maurizio Porcu

Treasury

Erika Conti

Administration

Ziyoda Mirakhmedova

Compliance

A communication that is not an end in itself

We do not consider our fellow entrepreneurs’ company a target, a trophy to be inserted in our track-record table.
We do not look for a press coverage of our activity and we are just concerned that the news of a transaction are correctly perceived as a positive one by the employees, the customers and all the other stakeholders.

Our team completed more than 180 investments so far (including add-ons to portfolio companies), nurturing the longest learning curve in the Italian market.