02 Dec 2025

Galante e Associati and Fivers in AcomeA’s Acquisition of GAM (Italia) SGR

"Galante e Associati advised AcomeA SGR and FIVERS Studio legale e tributario advised the GAM group in AcomeA’s acquisition of all shares in GAM (Italia) SGR and its merger by incorporation. The transaction closed following Banca d’Italia authorisation, enabling AcomeA to manage certain real-estate FIA, replace GAM on the Clean Energy One Fund, and assume mandates including MuSA."

Galante e Associati and FIVERS acted for the parties in AcomeA SGR’s acquisition of GAM (Italia) SGR: Galante e Associati advised AcomeA SGR, while FIVERS Studio legale e tributario advised the GAM group. The transaction consisted of the acquisition of the entire share capital of GAM (Italia) SGR by AcomeA SGR and the concurrent merger by incorporation of GAM (Italia) SGR into AcomeA. The closing took place following receipt of various clearances, notably the authorisation from Banca d’Italia, which included an extension of AcomeA SGR’s activities to the management of real-estate alternative investment funds (FIA). This extension enabled AcomeA to replace GAM (Italia) SGR as manager of the reserved FIA "Clean Energy One Fund". In addition, AcomeA became investment manager of the Luxembourg investment vehicle "Multi Asset Strategic Allocation – MuSA" and of GAM SGR’s discretionary managed portfolios. The transaction also foresees the development of operational and commercial synergies with the GAM group. Galante e Associati represented AcomeA SGR with a team composed by: Barbara Terranova, partner (team lead); Roberta Padula, counsel; Massimo Serra, senior associate; Silvia Brogi, senior associate. Galante e Associati advised AcomeA on all corporate and regulatory aspects of the transaction. FIVERS Studio legale e tributario represented the GAM group with a team composed by: Francesco Di Carlo, managing partner (team lead); Debora Gobbo, partner; Filippo Raynaud, associate. FIVERS advised GAM on legal and tax matters related to the transaction.
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