Who we are
A dynamic ecosystem of more than 100 professionals bringing together experienced investment teams across Italy, France, Spain and the Benelux, combining deep investment expertise and entrepreneurial talent to pursue high-value opportunities across European private markets.
Our offices
Treviso
Paris
What makes us 21 NEXT
21 NEXT is the meeting point of two entrepreneurial journeys that helped shape the evolution of European private markets.
One began in 1992, when Alessandro Benetton founded 21 Invest with a simple conviction: that long-term value is created by working alongside entrepreneurs. Over more than three decades, that belief evolved into a platform investing in companies across Europe, supporting growth, transformation and industrial development with a consistent entrepreneurial mindset.
The second took shape in 2011, when Panfilo Tarantelli founded Tages. In 2014, Umberto Quadrino joined the firm, contributing to its continued development. Built around infrastructure and the energy transition, Tages grew from the belief that essential assets — energy, infrastructure and credit — require patient capital, industrial understanding and disciplined execution to support long-term progress.
21 Invest and 21 Tages have come together under 21 NEXT to build a single platform with greater scale, broader diversification and the ambition to create long-term value.
While originating from different sectors, both journeys were guided by the same principle: investment as a form of industrial engagement, not financial engineering.
Our people
At 21 NEXT, people are our greatest asset. Everything we build starts with the experience, judgment and entrepreneurial mindset of the teams that shape the platform.
Our governance model is designed to empower talent, enable fast and informed decision-making, deepen sector expertise and ensure clear accountability across the platform. Our structure supports performance while preserving entrepreneurial autonomy.
We bring together investment professionals, corporate leaders and entrepreneurial talent across private markets, creating a community defined by expertise, responsibility and shared ambition.
This is how we make NEXT happen: by connecting exceptional people across our shared platform
Leadership team
A team of high-level industrial and investment professionals with top-tier international experience.
Alessandro Benetton
Chairman of 21 Next
Alessandro Benetton, a pioneer of Italian private equity, in 1992 he founded 21 Invest, now part of 21 NEXT, of which he serves as Chairman. He has been Chairman of Edizione S.p.A. since 2022, one of Europe's largest holding companies. In 2023, he was appointed Honorary Chairman of Avolta Group and from March 2026, he became Chairman of Mundys. In 2025, with the support of Edizione, Mundys, and Aeroporti di Roma, he relaunched the Unhate Foundation as its Founder and Chairman.
He graduated with honours from Boston University and holds an MBA from Harvard Business School. After working as an analyst at Goldman Sachs, he led the Benetton Formula 1 team, which under his leadership won two drivers' world championships and one constructors' championship. In 2010, he was appointed Cavaliere del Lavoro. In 2018, he received the Kennedy Award and in December 2023, he was honoured with the Global Advocate of the Year Award by the United Nations Correspondents Association (UNCA) in New York.
Panfilo Tarantelli
CEO of 21 Next
Panfilo Tarantelli is the CEO of 21 NEXT, Tages S.p.A. and Tages Alternative Solutions, Chairman of Banca CF+, and Board Member of Investcorp-Tages Limited and Tages Capital SGR. Panfilo has over 40 years' experience in financial services in London. Prior to Tages, Panfilo was Vice Chairman of Citi Europe (2008) and member of the European OPCO and of the Advisory Board.
Panfilo was at Schroders since 1986 and became Chief Executive of Schroders Italia in 1992 and subsequently Head of Continental Europe for Investment Banking. In 1997, he was appointed Head of Europe and then Global Head of Equities. After the acquisition of Schroders by Citi, Panfilo became Head of Investment Banking and later Chairman of the Global Banking Division for Europe. Panfilo was responsible for M&A, equity and privatisation transactions led by Schroders and Citi on the European market.
François Barbier
Managing Partner
François Barbier joined 21 Invest France since inception in 1998. Initially Member of the Board, he was appointed Deputy General Manager in 2017 and CEO in 2019. François Barbier holds a Masters Degree from Kedge Business School and is a member of the Société Française des Analystes Financiers (French Association for Financial Analysts).
Guillaume Cousseran
Managing Partner, Group Head of Sales and Investor Relations
Guillaume Cousseran is Managing Partner, Group Head of Sales and Investor Relations at 21 NEXT. He has more than 20 years of experience in private equity and investor relations. Prior to joining 21 NEXT, he spent close to 20 years at Seven2 SAS (formerly Apax Partners SAS), where he built and led the firm’s Investor Relations practice, overseeing the structuring and fundraising of several institutional funds and investment vehicles, while also developing its Wealth offering from scratch. Earlier in his career, he held roles in deal execution and business development at Apax Partners after starting his career in investment banking at Lehman Brothers. He is a graduate of HEC Paris and currently chairs the Retail Commission at France Invest.
Dino Furlan
Managing Partner
Dino Furlan joined 21 Invest in 1994 and he has worked with Alessandro Benetton for over 30 years. He experienced the full range of cycles in private equity and led the launch of 21 Invest's private equity activity for institutional investors. He became Managing Partner in 2001. Prior to joining, he worked in the Finance Department of Fiat Auto in London. Dino Furlan holds a degree in Business Administration from Ca' Foscari University of Venice.
Paolo Galli
Executive Board Member and Senior Partner
Paolo Galli has over 20 years of international experience in M&A and investment banking. Former Head of M&A Italy at Citi, he also led M&A activities across selected European markets after joining Schroders Investment Banking in 1998. He has strong expertise in Industrials, Infrastructure and Energy. He is now Executive Board Member and Senior Partner at Tages Capital SGR.
Giovanni Mattioli
CIO, Private Debt
With over 20 years of experience in private debt, Giovanni Mattioli joined Tages Capital SGR in 2021. Before joining Tages, he was Chief Investment Officer of Green Arrow Private Debt Fund and previously Investment Manager at Mezzanove Capital, after starting his career in Deloitte Corporate Finance. He has extensive expertise across first-lien, mezzanine and minority equity investments.
Andrea Mazzucato
Managing Partner
Andrea Mazzucato joined 21 Invest in 2003 and became Managing Partner in 2020. Prior to joining, he worked at Private Equity Partners and at ABN Amro in private banking and equity research. Andrea Mazzucato holds a degree in Business Administration from University of Padova after attending courses at Boston University and London School of Economics.
Carlo Michelini
Executive Board Member and Senior Partner
Carlo Michelini has over 30 years of experience in infrastructure investing and investment banking. Former Equity CIO of F2i SGR, he led equity investments and fundraising for six funds with over €7.5bn AUM. Previously, he spent 17 years at Morgan Stanley, becoming Managing Director in Milan. He is now Executive Board Member, Senior Partner and CIO of the value-added mid-cap infrastructure strategy at Tages Capital SGR.
Marco Monis
Managing Partner
Marco Monis joined 21 Invest in 2001 and became Managing Partner in 2004. Prior to joining, he was a principal at KPMG Corporate Finance in Milan and London, where he worked for 4 years gaining experience on mid-market transactions. He began his career in the Administration and Finance department of two small companies based in the North-East of Italy. Marco Monis holds a degree in Business Administration from Bocconi University in Milan.
Pietro Pacchione
Board Member and Senior Partner
Pietro Pacchione leads the industrial strategy and asset management of Tages Capital's renewable and storage platform and is Vice Chairman of Elettricità Futura. Pietro holds an Executive Master in Finance from SDA Bocconi and has over 20 years of experience in renewable energy. Before joining Tages, he held leadership roles at Green Utility, Consip and ExxonMobil, and served on the boards of AssoRinnovabili and Assoelettrica.
Stéphane Perriquet
Managing Partner
Stéphane Perriquet joined 21 Invest France in 2001, became Managing Partner in 2011 and was appointed Deputy General Manager in 2019. Prior to joining he spent five years at Siparex Private Equity after having worked as Financial Controller at BFI-IBEXSA, a European electronics component group, and as an Auditor at KPMG. Stéphane Perriquet graduated with a major in Finance from NEOMA Business School.
Guido Prearo
Senior Partner
With more than 20 years of experience in infrastructure and renewable energy, Guido Prearo joined Tages in 2022 after holding senior investment roles at Deloitte, Trina Solar, Canadian Solar, AE-Deutsche Bank and Macquarie. In 2021, he founded Emeren, now a leading renewable energy company in Southern Europe. At Tages, he is senior partner and deals with energy transition investments, with a strong focus on sustainability and innovation.
Umberto Quadrino
Executive Board Member and CIO Infrastructure
Umberto Quadrino joined Tages Group in 2014 as Chairman and is currently Executive Board Member and CIO Infrastructure at Tages Capital SGR. He had previously held senior executive roles within the FIAT Group, including CFO and Executive Vice President, before becoming CEO of New Holland/CNH and later CEO of Edison (2001–2011). He graduated in Business and Economics from the University of Turin.
Daniele Spada
Executive Board Member and General Manager
Daniele Spada has over 25 years of experience in the asset and wealth management industry. He is General Manager and Board Member of Tages Capital SGR, as well as Board Member of Tages S.p.A. and Tages Alternative Solutions. Before joining Tages in 2020, he was CEO of SG 29 Haussmann (Société Générale) and held senior leadership roles at Lyxor and BNP Asset Management.
Fabrice Voituron
Managing Partner
Fabrice Voituron joined 21 Invest France in 2012, became Partner in 2016 and was appointed Managing Partner in 2019. Prior to joining he spent more than 10 years at Omnes Capital after having worked as an Analyst at CLAM Private Equity and BNP Cardif. Fabrice Voituron holds a Master's Degree in Financial Engineering from IAE Gustave Eiffel Paris XII.
Board of Directors
Alessandro Benetton, a pioneer of Italian private equity, in 1992 he founded 21 Invest, now part of 21 NEXT, of which he serves as Chairman. He has been Chairman of Edizione S.p.A. since 2022, one of Europe's largest holding companies. In 2023, he was appointed Honorary Chairman of Avolta Group and from March 2026, he became Chairman of Mundys. In 2025, with the support of Edizione, Mundys, and Aeroporti di Roma, he relaunched the Unhate Foundation as its Founder and Chairman.
He graduated with honours from Boston University and holds an MBA from Harvard Business School. After working as an analyst at Goldman Sachs, he led the Benetton Formula 1 team, which under his leadership won two drivers' world championships and one constructors' championship. In 2010, he was appointed Cavaliere del Lavoro. In 2018, he received the Kennedy Award and in December 2023, he was honoured with the Global Advocate of the Year Award by the United Nations Correspondents Association (UNCA) in New York.
Panfilo Tarantelli is the CEO of 21 NEXT, Tages S.p.A. and Tages Alternative Solutions, Chairman of Banca CF+, and Board Member of Investcorp-Tages Limited and Tages Capital SGR. Panfilo has over 40 years' experience in financial services in London. Prior to Tages, Panfilo was Vice Chairman of Citi Europe (2008) and member of the European OPCO and of the Advisory Board.
Panfilo was at Schroders since 1986 and became Chief Executive of Schroders Italia in 1992 and subsequently Head of Continental Europe for Investment Banking. In 1997, he was appointed Head of Europe and then Global Head of Equities. After the acquisition of Schroders by Citi, Panfilo became Head of Investment Banking and later Chairman of the Global Banking Division for Europe. Panfilo was responsible for M&A, equity and privatisation transactions led by Schroders and Citi on the European market.
Enrico Laghi has been Chief Executive Officer of Edizione since 2022. A Chartered Accountant, he graduated with honors in Business and Economics from Sapienza University of Rome, where he was Full Professor of Business Economics. He served as Extraordinary Commissioner for ILVA and Alitalia and held management and supervisory roles at several listed companies, including UniCredit, Acea, Pirelli and TIM. He was also a member of the Vatican’s Council for the Economy, OIV and EFRAG. He is Chairman of Studio Laghi S.r.l. and Chairman of the Board of Directors of 2100 Ventures S.p.A. and currently sits on the boards of Avolta, Mundys and Abertis.
Matteo Fanciullacci joined Edizione S.p.A. as Chief Financial Officer in 2025. Prior to joining Edizione, he served as CFO, Head of M&A and member of the Investment Committee at CDP Equity from 2018 to 2025. He began his career in investment banking at Deutsche Bank before joining Merrill Lynch in London and later Goldman Sachs, where he spent eight years in the Italian Investment Banking team, progressing to Executive Director. Matteo Fanciullacci holds a BA in Business Administration and an MSc in Accounting, Corporate Finance and Management Control from Bocconi University.
Vittorio Pignatti-Morano Campori is Co-Founding Partner and Chairman of Trilantic Europe. He previously spent over 20 years at Lehman Brothers, where he was Vice Chairman of Lehman Brothers Holdings Inc. and held senior leadership roles across Investment Banking, Mergers & Acquisitions and Private Equity. Earlier in his career, he served in senior positions at Banque Paribas and Manufacturers Hanover Trust. Mr Pignatti is on the board and chairs the investment committees of all Trilantic funds and sits on the boards of Passione Beauty and Alete. Outside of his directorships connected to Trilantic Europe he is currently an independent member of the Board of Directors of Edizione and was Vice Chairman and Independent Director of Mediobanca from 2018 to October 2025. Vittorio holds an M.A. in Economics from Columbia University and a B.A. in Economics and Mathematics from the University of Sussex.
Massimo Fava joined Edizione S.p.A. in 2001 and has worked closely with the group's leadership for over 25 years. He has been responsible for the Finance function, while also gaining extensive experience in equity investments and asset management, including bank and capital market financing, M&A transactions, derivatives strategies and the management of the group's listed and unlisted equity portfolio. He also serves as a Board Member in several Edizione-controlled companies and as a member of the Advisory Board of a number of private equity funds. Prior to joining Edizione, he worked as Group Treasury and Risk Manager at Zoppas Industries. Massimo Fava holds a degree in Business Administration from Ca' Foscari University of Venice.
Giovanni Corrado is Head of the Chairman's Office at Edizione, where he reports to the Chairman and works on the Group's strategic priorities and cross-business initiatives. He serves on the boards of Benetton Group and 21 Invest. Prior to joining Edizione, he worked at Boston Consulting Group, advising CEOs and senior leadership teams on corporate strategy, transformation, M&A and post-merger integration across Europe and North America. He spent the first part of his career at Procter & Gamble, where he led the commercial strategy and execution for one of its largest consumer brands. He holds a degree in Industrial Engineering and Management from the University of Padua and completed part of his graduate studies at the Lund University School of Economics and Management in Sweden.
François Barbier joined 21 Invest France since inception in 1998. Initially Member of the Board, he was appointed Deputy General Manager in 2017 and CEO in 2019. François Barbier holds a Masters Degree from Kedge Business School and is a member of the Société Française des Analystes Financiers (French Association for Financial Analysts).
Dino Furlan joined 21 Invest in 1994 and he has worked with Alessandro Benetton for over 30 years. He experienced the full range of cycles in private equity and led the launch of 21 Invest's private equity activity for institutional investors. He became Managing Partner in 2001. Prior to joining, he worked in the Finance Department of Fiat Auto in London. Dino Furlan holds a degree in Business Administration from Ca' Foscari University of Venice.
Umberto Quadrino joined Tages Group in 2014 as Chairman and is currently Executive Board Member and CIO Infrastructure at Tages Capital SGR. He had previously held senior executive roles within the FIAT Group, including CFO and Executive Vice President, before becoming CEO of New Holland/CNH and later CEO of Edison (2001–2011). He graduated in Business and Economics from the University of Turin.
Sergio Ascolani has 40 years of experience in financial services, spanning private equity, asset management, investment banking and M&A. After 3 years at Sofipa, he spent 20 years at Citigroup, serving as Head of Corporate & Investment Banking Italy and member of the Global Investment Banking Operating Committee. Co-founder of Tages Group in 2011, he is now Board Member of 21 NEXT S.p.A., Tages Capital SGR, Tages Alternative Solutions and Investcorp-Tages.