With offices in Milan, London and Madrid, Charme Capital Partners invests across Europe, with a particular focus on Italy, the UK and Spain. The team has a long history of working together in private equity across Europe
Luigi has been the Chairman of Charme Capital Partners since 2011, having previously served as a Senior Advisor from 2009 to 2011. He is a member of the Investment Committee and based in Milan.
Luigi was a leading member of the investment team of Octo Telematics, serving as Chairman and coordinating its successful exit. He is currently Chairman of Bellco. Luigi is fully involved in the analysis and discussion of all investment opportunities and has sourced several proprietary investment targets. Luigi also served as Board Member of Poltrona Frau.
Luigi has been a private equity entrepreneur since 1986. Prior to joining the Firm, he co-founded the fund BS Private Equity in 1988, where he served as the CEO until 2001 and subsequently as Chairman until 2005. In 2006 he co-founded the private equity fund Magenta. He holds a degree in Mechanical Engineering and a diploma in Management and Economics from Bocconi University in Milan.
lsala@charmecapitalpartners.com
Matteo is the CEO and the Managing Partner of Charme Capital Partners, having co-founded the Charme Funds in 2003. After 12 years in Milan, since 2015 he is based in London to personally guide the international investment strategy of the Charme Funds. He is a member of the Investment Committee.
Matteo has been heavily involved in all of Charme’s transactions, notably leading its investment in Poltrona Frau Group, from its origination, buy and build strategy, through to its successful IPO and exit. He was also instrumental in establishing a number of international joint-ventures for Poltrona Frau Group with Mubadala in the Middle East and Tata Group in India. Matteo also served as a Board Member of Octo Telematics and of Bellco. In addition to a prominent role in sourcing, evaluating and monitoring investments, Matteo personally manages Charme Capital Partners’ unique investor base.
Prior to founding the Firm, Matteo worked at Goldman Sachs in London in the Investment Banking Team. He holds a degree in Economics from Bologna University in Italy.
mdm@charmecapitalpartners.com
Tommaso was a Founding Partner of Charme in 2003, based in Milan. He is a member of the Investment Committee and the Board.
Tommaso has actively participated in all of Charme’s transactions. Since 2003, he has been involved in the acquisition, build-up, IPO, international JVs and successful exit of Poltrona Frau Group. He originated and executed the acquisition of Octo Telematics and acts as leading team member for the investment in Bellco, where he is a Board Member. Tommaso plays an active role in sourcing, evaluating and monitoring investments opportunities for Charme. Previously he served as a board member of Poltrona Frau, PF Emirates and Octo Telematics.
Prior to Charme, Tommaso worked in the Investment Banking team of Deutsche Bank and UniCredit. He holds a degree in Economics from Bocconi University in Milan and is a chartered accountant.
tbeolchini@charmecapitalpartners.com
Matteo has been the CFO of Charme Capital Partners since 2007 and is based in Milan.
Matteo set up and now runs the administrative and control functions of the Firm. He supervises all legal and regulatory functions, including risk management, anti-money laundering, compliance and internal audit. Matteo also manages legal and administrative relationships with investors and provides constant support to the investment team in the management and implementation of investments and divestments. He is a member of the Investment Committee and Secretary of the Board.
Matteo previously worked as CFO for a number of prominent Italian private equity funds. He holds a degree in Economics from Bocconi University in Milan.
mfacoetti@charmecapitalpartners.com
Julian is a London-based Partner, and leads the Firm's activities in the UK. He is a member of the Investment Committee and member of the Board.
Prior to this, he spent 15 years at Doughty Hanson in London, where he headed up the UK Private Equity team. He was a member of the Doughty Hanson Investment Committee from 2006 until 2015 where he worked on a number of significant investments including Dunlop Standard Aerospace, Balta in Belgium, Moeller in Germany and UK-based VUE Entertainment which was exited in 2013 after the implementation of a successful pan-European buy and build strategy. Julian has extensive Board experience across Europe and has chaired a number of the investments in which he was active.
Before joining Doughty Hanson, Julian spent six years at British Airways in a number of general management roles. Julian has a Bachelor of Arts degree in Modern Languages from the University of Durham and an MBA from INSEAD.
jhuxtable@charmecapitalpartners.com
Francisco is a partner at Charme Capital Partners, he is a member of the Investment Committee and member of the Board.
He was a Senior Principal at Doughty Hanson from 2006 to 2015 based in London and led the private equity team investing in Southern Europe. He was a member of the Investment Committee of the Doughty Hanson Funds from 2008. Among other transactions, Francisco was responsible for investments in USP Hospitales, Quirón and Teknon. Other previous Board responsibilities have included Eurofiber, TUMI and ONO Cable.
From 1999 to 2006, Francisco held various responsibilities in London investing and managing investments on behalf of JP Morgan and successor funds, focusing on the telecommunications and media sectors. Prior to that, he was head of the internet and mobile businesses of Retevisión where he led the launch of Amena mobile.
Francisco has a Master of Science degree from the Universidad Politécnica de Madrid and an MBA from the Fuqua School at Duke University, US.
fchurtichaga@charmecapitalpartners.com
Martyn is a Principal at Charme Capital Partners and is based in London. He focuses on the origination and execution of transactions across multiple sectors as well as portfolio management.
Prior to joining the firm, Martyn was an Associate at Terra Firma Capital Partners where he spent more than 4 years working in London and Dubai. While at Terra Firma, he worked on successful acquisitions, financings and exits across a variety of industries, and also worked on the implementation of portfolio value-creation strategies.
Martyn has a degree in Philosophy, Politics and Economics from the University of Oxford.
MEvans@charmecapitalpartners.com
Jorge is a Principal at Charme Capital Partners and is based in Madrid. He is focused on sourcing and executing new investment opportunities across sectors and on portfolio company management.
Prior to joining the Firm, Jorge was Managing Partner of Liceo Capital Advisors, a mid-market M&A consultancy firm he founded in 2019 and where he advised in transactions worth circa. €400m in the Spanish mid-market. Previously, he worked as an Investment Director at Poniente Capital Ventures, in Madrid, and as an Investment Associate at GSP Capital in London, and H.I.G. Capital in Madrid. He began his career as a process engineer at Nestlé in Switzerland.
Jorge has a MSc in Mechanical Engineering from the Swiss Federal Institute of Technology in Lausanne – EPFL – where he was awarded the Robert Zanelli Prize, a MSc in Industrial Engineering from the Universidad Pontificia de Comillas – ICAI – where he was awarded the scholarship and diploma of excellence from the regional government of Madrid and an MBA from Harvard Business School.
jlopez@charmecapitalpartners.com
Bruno is based in Milan and supports the senior team on the origination and execution of transactions across multiple sectors as well as on the management of portfolio companies.
Prior to joining the Firm, Bruno was an Investment Manager at White Bridge Investments where he spent 4 years working on a number of buyouts within the Italian private equity industry. Prior to this, he worked in the Milan-based M&A boutique Fineurop Soditic, and started his career in the Consumer & Retail Investment Banking team at Bank of America Merrill Lynch in London.
Bruno received a MSc in Management and a BA in Finance from Bocconi University in Milan, and was a visiting student at the University of London.
Roberto is based in Milan and supports the senior team on the origination and execution of transactions across multiple sectors and on the portfolio management.
Prior to joining the Firm, Roberto was an Associate a Motion Equity Partners, where he spent 5 years working on a wide range of investment activities: including acquiring, managing and exiting three portfolio companies. His experience is particularly focused on retail and business services sectors. Roberto started his career in the Investment Banking teams of Rothschild and Morgan Stanley. He holds a M.Sc. in Finance from Bocconi University in Milan.
Alessandra joined Charme Capital Partners in 2008 and supports the CFO function in managing the administrative and control activities. She’s involved in group and fund accounting, financial planning and analysis. Alessandra also supports in the execution of transactions.
Alessandra previously worked for 14 years for a prominent Private Equity fund where she started as an accountant.
agiacomelli@charmecapitalpartners.com
Rachele joined Charme Capital Partners in 2011 and supports the administrative and control functions. She is also involved in group and fund accounting.
Rachele previously worked for 9 years for an insurance company where she started as an accountant.
RGiacobbo@charmecapitalpartners.com
Federico joined Charme Capital Partners in 2021 and supports the CFO function in managing the administrative and control activities. He’s involved in group and fund accounting, financial planning and analysis. Federico also supports in the execution of transactions.
Prior to joining the Firm, Federico was a senior manager at Deloitte, where he spent more than 14 years working in several audit engagement and advisory projects of European financial institutions. Federico holds a master of science in law and business administration from Bocconi University in Milan.
fbartesaghi@charmecapitalpartners.com
Asier joined Charme Capital Partners in 2021 as an Investment Manager in the Madrid office. He supports the senior team on the origination and execution of transactions across multiple industries.
Prior to joining the firm, Asier was an Associate at Endurance Partners, where he spent 6 years working on the acquisition and turnaround of SMEs in special situations through financing and operational improvements across a wide range of industries. Prior to that, Asier began his career at ActivoTrade.
Asier holds a Bachelor of Business Administration and a Bachelor of Laws from the Universidad Autónoma de Barcelona, and an MBA from INSEAD with distinction.
AMitchell@charmecapitalpartners.com
Vishal joined Charme Capital Partners in 2021 as an Investment Manager in the London office. Vishal supports on the origination and execution of transactions across the Healthcare, Technology and Business Services sectors as well as portfolio management.
Prior to joining the firm, Vishal was at A&M Capital Partners, where he completed several platform and add-on investments across Europe in the Business Services and Consumer sectors. Prior to that, Vishal worked for CapVest Partners where he had portfolio management responsibilities with businesses in the Healthcare and Consumer sectors. He started his career in Investment Banking with Houlihan Lokey.
Vishal holds a Bachelor of Management Science (first-class honours) from the London School of Economics.
vluhana@charmecapitalpartners.com
Pietro is based in Milan and supports the senior team on the execution of transactions across multiple sectors and on portfolio management.
Pietro joined Charme Capital Partners in January 2019, after a six month internship. He holds a BSc in Management Engineering from Politecnico of Milan and a MSc in Finance from ESADE University in Barcelona.
psironi@charmecapitalpartners.com
Juan joined Charme Capital Partners in 2021 as an Associate based in Madrid. He supports the senior team on origination and execution of transactions across multiple sectors as well as on the portfolio management.
Prior to joining Charme Capital Partners, Juan was an Analyst at Morgan Stanley where he spent 2 years in the Iberia coverage team. His core focus was advising clients on mergers and acquisitions and capital markets transactions.
Juan holds a double bachelor’s degree in International Business from the Universidad Pontificia de Comillas in Madrid (ICADE) and Northeastern University in Boston.
JCasla@charmecapitalpartners.com
Alvaro joined Charme Capital Partners in 2023 as an Associate based in Madrid. He supports the senior team on origination and execution of transactions across multiple sectors as well as on the portfolio management.
Prior to joining Charme Capital Partners, Alvaro was an Associate at Greenhill & Co. where he spent 3 years in the Iberia coverage team. His core focus was advising clients on mergers and acquisitions across an ample array of sectors including TMT, industrials, business services, consumer and other.
Alvaro holds a double bachelor’s degree in International Business Administration from Lancaster University (Lancaster, UK) and Northeastern University D'Amore-McKim School of Business (Boston, USA).
ATrapote@charmecapitalpartners.com
Yusuf joined Charme Capital Partners in 2023 as an Investment Associate in the London office. He supports the senior team on the origination and execution of transactions across multiple sectors as well as on the management of portfolio companies.
Prior to joining Charme, Yusuf was an Associate at Rothschild & Co where he spent 3 years in the firm's Investment Banking M&A Advisory practice, focusing primarily on transactions in the Industrials and Business Services sectors.
Yusuf holds a BSc in Philosophy and Economics from the London School of Economics.
ysaibo@charmecapitalpartners.com
Ravi joined Charme Capital Partners in 2023 as an Associate based in London. He supports the senior team on the origination and execution of transactions across multiple sectors as well as on the management of portfolio companies.
Prior to joining the Firm, Ravi was an Associate at Credit Suisse in the Technology, Media and Telecommunications (TMT) Investment Banking team. Ravi started his career at the Bank in the Equity Sales team where he was a Generalist.
Ravi holds a BA in Economics from the University of Cambridge.
RShah@charmecapitalpartners.com
Morena joined Charme Capital Partners in 2016 and supports the accounting, management control and administration activities of Charme Capital Partners. Morena previously worked for 12 years in a cinema advertising agency, where she began her career as an accountant.
mfilice@charmecapitalpartners.comCharme Capital Partners SGR SpA is a management company listed in the Bank of Italy Register of asset management companies (under n. 119)
In support of its Board of Directors and Corporate Structure, Charme has in place the highest market standards in terms of governance structure constituted by committees and control functions that monitor key areas such as conflicts of interest, compliance and risk management
Giorgio Guatri - Chairman
Agostino Giorgi – Statutory auditor
Massimo Invernizzi - Statutory auditor
Deloitte & Touche S.p.A.
Via Tortona 25
20144
Tel : +39 02 83322111
Mario Paolo Moiso - Chairman
Composed of the Independent Board members and by the Controlling Functions representatives, it monitors potential conflicts of interest and oversees the correct exercise of the activity of the funds
Solicitor: Federica Menichetti - Chairman
Composed of independent experts and the Independent Board members, it monitors the functioning of and compliance with the Organizational Model adopted under Legislative Decree 231/01 on the administrative liability of companies.
To view our Whistleblowing Policy and to manage a Whistleblowing report, please use the following link: CharmeCapitalPartnersSGR.integrityline.com
Gianmarco Maffioli - Chairman
This function measures the financial and operational risks of the funds’ portfolio and of the management company
Gianmarco Maffioli - Chairman
Prevents the risk of failing to comply with legal and regulatory requirements
Matteo Facoetti
The function ensures compliance with legal and regulatory requirements in the area of the prevention and control of money laundering and financing of terrorism
Mario Ravaccia
Ensures the correct functioning of the internal controls system
Professional integrity, prevention of conflicts of interest, transparency and confidentiality are the principles of the Code of Ethics that Charme Capital Partners SGR SpA has had in place since its inception, and constitute the fundamental values on which it has built its credibility and reputation over time
These principles have always guided our conduct and been at the basis of the relationships with all our internal and external stakeholders - with the Companies, the Entrepreneurs and the Investors
The Code of Ethics is the main instrument from which the Organisational Model was developed to be adopted by Charme in accordance with Legislative Decree 231/01 on the administrative liability of companies
Charme Capital Partners is a registered member of the AIFI and BVCA associations
AIFI was established in May 1986 with the objective of developing, coordinating and representing the active operators of Private Equity and Venture Capital in the Italian market
BVCA is the British association that represents and directs the activities of companies operating in Private Equity and Venture Capital
Charme Capital Partners SGR SpA is committed to adhering to the principles and guidelines defined for Responsible Investment by the United Nations and the Private Equity Council. A role of shared value, recognized in Italy and the world, to grow companies in respect of people and the environment
Charme adheres to the guidelines for responsible investment published by the Private Equity Council. These guidelines incorporate the valuation of environmental, social and governance aspects into the investment decision-making process and the monitoring activities, in order to pursue the funds' objective of maximizing the value creation
This website is operated by Charme Capital Partners SGR S.p.A. for Charme Capital Partners Limited and its affiliates (“we” or “us”). This privacy statement outlines how we use any information you may provide to us when you visit our website, and includes details of our use of cookies. If you wish to contact us in relation to our use, storage or processing of your personal data, please contact us.
If you contact us via the ‘Get In Touch’ form on our website we will hold your name and email address (as well as any other personal information you may send us, such as your phone number), which we will use to respond to your enquiry. We may also use this information to send you other business and marketing communications. If you do not wish to receive such communications you should opt out by contacting us at the email address above. As part of our processing activities we may transfer your personal information outside the EEA. While some countries outside the EEA do not offer the same level of protection for personal data as countries within the EEA, we will take all reasonable steps to ensure that your personal data is processed securely and with an adequate level of protection.
We use cookies as set out below. Cookies are text files containing small amounts of information which are downloaded to your device when you visit a website and sent back to the originating web domain on your subsequent visits to that domain. Most web pages contain elements from multiple web domains. If you do not agree to our use of these cookies please disable them by following the instructions for your browser set out here or use the cookies’ own automated disabling tools.
We make use of analytic cookies to analyse how our visitors use our website and to monitor website performance. This allows us to provide a high quality experience by customising our offering and quickly identifying and fixing any issues that arise. Our website currently uses the following performance cookies:
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We may make changes to this privacy statement from time to time. We therefore encourage you to review it periodically to stay informed of how we are using personal information.
CORPORATE INFORMATION
Charme Capital Partners SGR S.p.A. - Registered office: Milan (Italy), Via Santa Margherita no. 4. Share Capital €1.000.000. Enrolled under number 119 with the Bank of Italy’s register of asset management companies, AIFs’ section. Tax Code and VAT number: 07140121000.
Charme Capital Partners Limited is registered in England and Wales with number 09487131. Its registered office at 7th Floor, 3 St James’s Square, London, SW1Y 4JU, United Kingdom. Charme Capital Partners Limited is authorised and regulated by the Financial Conduct Authority in the United Kingdom with firm registration number 706086. See the Financial Services Register for more details.
WEBSITE TERMS & CONDITIONS
Last Updated: April 2016
IMPORTANT NOTICE
Before you start to use this website, please read these terms and conditions (“Terms”) carefully and contact us (details below) if you have any questions.
By using this website you will be indicating that you accept and will comply with these Terms and that you have read our privacy statement which is incorporated into these Terms.
1. Company information
This website (“Website”) is operated by Charme Capital Partners SGR S.p.A. (“CCP”, “we”/”us”/”our”). The various CCP products and services detailed on this Website are provided by CCP, Charme Capital Partners Limited or their affiliates (the “CCP Group”).
CCP’s clients are the funds managed by it, and Charme Capital Partners Limited will provide services only to CCP. No person other than CCP should expect to be treated as a client by Charme Capital Partners Limited.
2. Scope of these Terms
These Terms, as amended by us from time to time, set out the basis on which you may use this Website and provide information about the way we provide the various financial products and services detailed on this Website.
The content of this Website is intended for institutional investors only unless specifically indicated otherwise.
These Terms are effective October 2015. We may change them from time to time by updating this page so please revisit and reread it periodically. We may change the content or availability of any of the information available through this Website (including by changing these Terms) or add additional services.
3. No Offer
This Website is for information purposes only. This Website is not, and should not be construed as, an offer, or solicitation of an offer, to buy or sell any securities or other financial instruments. Shares of any companies or investment funds described herein are offered, if at all, solely on the basis of the information and representations expressly set forth in the relevant offering circulars and no other information or representations may be relied upon in connection with the offering of the shares.
4. Regulatory restrictions
In the United Kingdom (“UK”), this Website and the information contained in it is directed solely at Investment Professionals as defined in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”) and Article 14 of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemption) Order 2001 (the “PCISO”) and High Net-Worth Companies, Unincorporated Associations or Trusts as defined in Article 49 of the FPO and Article 22 of PCISO and to persons outside the UK. The investments and investment activity to which this Website relates are available only to and will be engaged in only with such persons. Any person who does not fall within this description may not access, use or rely on this Website or the information contained in it.
Information displayed on this Website contains material that may be interpreted by the relevant authorities in the country from which you are viewing the Website as a financial promotion or an offer to purchase securities. Accordingly, the information on this Website is only intended to be viewed by persons who fall outside the scope of any law that seeks to regulate financial promotions in your country of residence or in the country in which the Website is being viewed. Examples of such persons may be governmental agencies, persons sufficiently experienced in investment business to appreciate the risks associated with investment services promoted on this Website, large corporations and trusts and high net worth individuals. These examples are not country specific, may not be relevant to the country in which the Website is being viewed and are provided for illustration purposes only.
Those who access this Website do so on their own initiative and are responsible for compliance with applicable local laws and regulations. If you are uncertain about your position under the laws of your country of residence or the country in which the Website is being viewed then you should consult your legal adviser.
Specifically any information provided on this Website regarding investments is not directed to any United States person or any person in the United States, any state thereof, or any of its territories or possessions.
The ability to achieve successful results depends on a number of factors, and the past performance of CCP and investments arranged by it may not necessarily be repeated.
Transactions arranged by CCP often relate to investments that are not readily realisable because there may be no recognised market for such investments, and therefore it may be difficult for an investor to sell such investments or to obtain reliable information about their value.
5. Disclaimer: Reliance on information posted and security
Whilst CCP uses every reasonable effort to ensure the accuracy of the information contained on this Website which was prepared by or on behalf of CCP (as distinct from third party content – for which see: “Disclaimer: Links, third party information and websites” below) as at the publication, all such information is provided “as is” and this means that except where prohibited by law no warranties are given, whether express or implied, as to the reliability, accuracy, suitability or completeness of the information.
No company in the CCP Group, which includes CCP, accepts any liability for any use, or misuse, of the information presented on this Website or any loss or damage which may arise from access to or reliance on information published on this Website, except where that liability may not be excluded or limited by law. Accordingly, to the maximum extent permitted by law, we provide you with this Website on the basis that we exclude all representations, warranties, conditions and other terms which are not expressly set out in these Terms (including our [Privacy Statement]). This does not affect any mandatory legal rights that cannot be excluded under applicable law. Nothing in these Terms shall limit or exclude our liability (if any) for:
a) fraud or fraudulent misrepresentation;
b) personal injury or death resulting from our negligence;
c) our breach of our statutory obligation to provide the Website and related services with reasonable skill and care; or
d) any other matter for which it would be illegal for us to exclude, or attempt to exclude, liability.
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The information and opinions contained herein have been compiled or arrived at in good faith based upon information obtained from sources believed to be reliable. However, such information has not been independently verified and no guarantee, representation or warranty, express or implied, is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. Descriptions of entities and securities mentioned herein are not intended to be complete.
6. Disclaimer: Links, third party information and websites
This Website may contain, or be linked to, advice or statements from third parties. No company in the CCP Group, which includes CCP, makes any representation as to the accuracy, completeness, timeliness or suitability of such information and we have not, and will not, review or update such information. Any use made of such information is at your own risk.
Some of the information contained on this Website may have been prepared or provided by third parties and may not have been verified by us. Except where prohibited by law (see above), no warranties are given, whether express or implied, as to the reliability, accuracy, suitability or completeness of any such information. No company in the CCP Group, which includes CCP, accepts any liability for any use, or misuse, of the information presented on this Website or for any loss or damage which may arise from access to our reliance on information published on this Website, except where that liability may not be excluded or limited by law (see above). The links we provide from this Website to other websites are provided for information only. Other sites may link to this Website. We do not assume any responsibility or liability with respect to any website accessed via our Website or linking to this Website for any of the content on those websites. Those websites will have their own terms and privacy policies and you should read them carefully before using those sites.
The presence of any advert on this Website is not an endorsement of goods, services, or business or of any website advertised.
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Nothing contained on the Website constitutes investment, legal, tax or other advice nor is to be relied on in making an investment or other decision. You should obtain appropriate professional advice before making any investment decision.
8. Intellectual Property
Content included in this Website is owned by CCP or its licensors and may be accessed for your own personal, non-commercial use only (whether or not it is confidential). No part of this Website may be reproduced, distributed, published or delivered to any other party for any purposes.
9. Non-Independent Research
Any research published on this Website should be considered a marketing communication for purposes of the FCA rules. Such research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
10. Waiver
If we do not exercise any right or remedy which we have under these Terms this does not mean we have waived our right to it or any other right or remedy of ours.
11. Severance
If any provision of these Terms is found by a court of competent jurisdiction to be invalid, you agree that the other provisions of these Terms will remain in full force and effect in so far as possible.
If any invalid, unenforceable or illegal provision would be valid, enforceable or legal if some part of it were deleted, the provision shall apply with whatever modification is necessary to give effect to the actual intent of the parties.
12. Relationship
You agree that no joint venture, partnership, employment, or agency relationship exists between you and us as a result of these Terms or your use of this Website.
13. Entire Agreement
These Terms (including our [Privacy Statement]) contain the entire agreement between you and us regarding their subject matter and they supersede all prior communications, representations, warranties, stipulations, undertakings and agreement between the parties. Nothing in these Terms shall, however, operate to limit or exclude the liability of either party for any fraudulent misrepresentation.
14. Contact us
You can contact using our contact form or by post to our registered office (see above).
15. Other Disclosures
Charme Capital Partners SGR S.p.A. has not adopted a Commitment Policy pursuant to article 124-quinquies of the Consolidated Law on Finance, since, even though the investment policy of the managed funds envisages the possibility of investing in listed financial instruments, as at the date of publication of this announcement, the funds themselves have no shareholdings in companies with shares listed on an Italian or other EU member state regulated market.
It will be the care of the SGR to draw up and publish a Commitment Policy if in the future the conditions occur.
Under Rule 2.2.3R of the FCA's Conduct of Business Sourcebook, Charme Capital Partners Limited (the "Firm") is required to include on this website a disclosure about the nature of its commitment to the UK Financial Reporting Council's Stewardship Code (the "Code") or, where it does not commit to the Code, its alternative investment strategy. The Code is a voluntary code and sets out a number of principles relating to engagement by investors with UK equity issuers. Investors that commit to the Code can either comply with it in full or choose not to comply with aspects of the Code, in which case they are required to explain their non compliance. We have detailed below the reasons why the firm has chosen not to commit to the Code.
The Firm pursues a strategy that involves it advising on investing in unlisted European Private Equity investments. The Code is not therefore relevant to the Firm's strategy. While the Firm generally supports the objectives that underlie the Code, the Firm has chosen not to commit to the Code.
Shareholder Rights Directive (SRD II)
SRD II aims to promote effective stewardship and long-term investment decision making, in respect of shares traded on EEA regulated markets and comparable regulated markets outside the EEA. It came into effect on 10 June 2019.
The rules require asset managers, who invest in shares traded on a regulated market detailed above, to:
Charme Capital Partners Limited does not manage investments in shares which are traded on an EEA regulated market, or on a comparable regulated market outside the EEA, and so the SRD II rules do not apply to it. Therefore, we have not developed a shareholder engagement policy and nor are we required to make the disclosures outlined above.
1.1 Introduction
As a MIFIDPRU investment firm, we must establish, implement and maintain gender neutral remuneration policy and practices that are appropriate and proportionate to the nature, scale and complexity of the risks inherent in the business model and the activities of the Firm. Our remuneration policy and practices are gender neutral and do not discriminate employees on the basis of gender or other characteristics.
1.2 Governance
Given the size, internal organisation and the nature, scope and complexity of the activities of the Firm it does not have a separate Remuneration Committee. Therefore, the Remuneration policy’s supervisory function is undertaken by the Firm’s Governing Body.
1.3 Performance period
The Firm’s performance period is from 1 January 2022 to 31 December 2022[FB2] [RK3] .
The Firm has adopted a Remuneration Policy that complies with the requirements of Chapter 19G of the FCA’s Senior Management Arrangements, Systems and Controls Sourcebook.
1.4 Approach to remuneration for employees
The Firm’s remuneration approach is designed to support individual and corporate performance, encourage the sustainable long-term financial health of the business and promote sound risk management for the success of the Firm and to the benefit of its customers, counterparties and the wider market. Our remuneration approach promotes long-term value creation through transparent alignment with the agreed corporate strategy.
The Board believes the Firm’s remuneration structure is appropriate for the business and the industry it operates in and is efficient and cost-effective in delivering its long-term strategy.
Undeserved and excessive remuneration sends a negative message to all stakeholders, including the Firm’s workforce, and causes long term damage to the Firm and its reputation.
1.5 Financial incentives objectives
The objectives of the Firm’s remuneration practices are as follows:
The Firm uses the following financial incentives:
Our financial incentives are designed to:
As a SNI, the Firm is not required to establish a Remuneration Committee. Given the size, internal organisation and the nature, scope and complexity of the activities of the Firm it has not formed a Remuneration Committee. Therefore, the Remuneration policy’s supervisory function is undertaken by the Firm’s Board.
The Board is responsible for reviewing and approving remuneration, and to ensure remuneration policies across the Firm are consistent with the promotion of effective risk management. [KR5] The Board is responsible for reviewing and approving salary amendments and the Firm’s bonus pool arising from the annual compensation.
The Board meets regularly and is composed of:
1.7 Components of remuneration
The Firm makes a clear distinction between the fixed and variable remuneration.
Fixed remuneration primarily reflects a staff member’s professional experience and organisational responsibility as set out in the staff member’s job description and terms of employment; and is permanent, pre-determined, nondiscretionary, non-revocable and not dependent on performance.
Variable remuneration is based on performance and reflects the long-term performance of the staff member as well as performance in excess of the staff member’s job description and terms of employment. In exceptional cases, variable remuneration is based on other conditions. Variable remuneration includes discretionary pension benefits.
The Firm will ensure that the fixed and variable components of an individual’s total remuneration are appropriately balanced. In determining this balance, the Firm considers the following factors:
When assessing individual performance to determine the amount of variable remuneration to be paid to an individual, the Firm takes into account financial as well as non-financial criteria. Non-financial criteria should:
The Firm must take into account both financial and non-financial criteria when assessing the individual performance of its staff. This aims not only to discourage inappropriate behaviours but also to incentivise and reward behaviour that promotes positive non-financial outcomes for the Firm.
The Firm uses the following financial performance criteria:
The Firm uses the following non-financial performance criteria:
The criteria outlined above are used for the assessment of the performance of:
Financial performance criteria
Overall results of the Firm
Business line results
Non-financial performance criteria
Italian Management Company Satisfaction
Financial performance criteria
Individual contribution to financial results
Non-financial performance criteria
Performance in line with firm strategy or values
Adherence to the firm’s risk management and compliance policies;
1.9 Total amount of remuneration awarded
Under MIFIDPRU 8.6.8R(2), the Firm must disclose the total amount of remuneration awarded to all staff, split into:
|
Remuneration type |
£ |
|
Fixed remuneration |
£3,580,462 |
|
Variable remuneration |
£386,773 |
|
Total amount |
£ 3,967,235 |