Benetton’s Edizione launches 21 Next, a bold private-capital platform aiming to triple AUM to €10bn through mergers and acquisitions—and apply the family’s operating DNA to scale portfolio companies.

Next up: more private-capital consolidation. That’s the new design playbook being pursued by Italy’s billionaire Benetton family, which is merging its asset-management business, 21 Invest, with Tages, the Milan-based infrastructure and energy-transition investment firm. The combined platform, 21 Next, will be controlled by the family holding company, Edizione, with Alessandro Benetton set to act as chairman. The ambition is clear: scale AUM from €3bn to €10bn within five years, in part by snapping up additional private-capital firms. And as it sources deals, Edizione plans to lean on its operating heritage to help portfolio companies expand through hands-on improvements. It marks an important moment in the evolution of the family’s private capital business…ushering in the United Colors of Private Capital.