Luigi Bartone

Luigi Bartone spent just over 20 years at Intermediate Capital Group (ICG), the London-listed global alternative asset manager specializing in private debt, mezzanine and structured/private equity. He joined ICG in February 2004 as Head of Italy, was a member of the firm's Fund VI Investment Committee, and rose to Managing Director. Across two decades he led ICG's Italian subordinated-debt and equity investing and, per his own account, "led and contributed to several successful investments across Europe as part of an exceptional team that delivered outstanding returns across many market cycles." In late 2023 he announced his departure ("after 20 years at ICG…"), formally leaving in March 2024 to become an independent private investor.

Before ICG, Bartone was a manager at strategy-consulting firm A.T. Kearney for roughly three years, and earlier a consultant at Mars & Co, where he worked across Europe, South Africa and Mexico. His education is notably international: an MBA from INSEAD, an engineering degree from École Centrale Paris, and an industrial-engineering exchange at the Universidad Politécnica de Madrid.

A defining moment of his tenure was leading the establishment of ICG's permanent Milan office in September 2020. As Head of ICG Italy, he framed the office as a deepening of the firm's long-standing Italian commitment — expanding across multiple asset classes and building closer, direct relationships with entrepreneurs and management teams. He was joined there by Managing Director Giulio Piccinini, who relocated from London. Bartone has also appeared on the Italian private-equity conference circuit (e.g., a Milan private-equity conference in 2017).

• Focused on Italian mid-market and larger companies, investing across ICG's toolkit: mezzanine/subordinated debt, structured credit and private (often minority/partnership) equity — not classic venture/seed capital.
• Partnership-oriented: ICG typically backs strong management teams and entrepreneurs seeking to accelerate growth, rather than taking hostile or purely control-driven positions.
• On what earns a "yes," in his own words on the DOC Generici deal: *"DOC Generici exhibits the classic characteristics we look for in an investment"* — i.e., market-leading, defensive, cash-generative businesses with durable fundamentals.
• Invested through ICG's flagship ICG Europe funds (e.g., Europe VII, which closed at ~€4.5bn in November 2018), implying large institutional check sizes rather than early-stage tickets.