Ethica Global Investments

Ethica is an independent advisory and investment group, not a family office. It was founded in 2010 by a group of partners including Cosimo Vitola, Fausto Rinallo, Giovanni Berlingieri, and Roberto Bonacina. The firm provides M&A advisory, debt advisory, ECM advisory, and direct equity investments, primarily serving Italian mid-market companies, international groups, and institutional investors.

Ethica Global Investments is the direct-equity investment vehicle within Ethica Group, sitting alongside Ethica M&A Advisory, Ethica Debt Advisory, Ethica NextInfra Advisory, and Emintad Italy. The group uses a holding company to make direct minority and majority investments in small and medium-sized Italian enterprises, while the advisory arms generate fees from M&A, debt, and ECM mandates.

Ethica is a founding member of Mergers Alliance, an international partnership of 19 financial advisory firms launched in 2000. The alliance operates in major financial centers and emerging markets, enabling Ethica to identify target companies, potential investors, and financial or commercial partners globally and to assist clients locally on cross-border transactions.

Ethica invests directly in the equity of small and medium-sized Italian enterprises through its holding company. The firm targets medium-to-long-term partnerships alongside entrepreneurs and managers. Disclosed portfolio companies include Costa Edutainment, Core (CAPiTA & Union), Real Aromi Flavours Division, and Geosec, spanning edutainment, flavors, and industrial sectors.

The firm does not publicly disclose whether it manages third-party discretionary funds. Its investment activity appears to be conducted through a holding company structure, suggesting proprietary or semi-captive capital. Formal AUM or deployment figures have not been published, and the number of investors or fund structures is not publicly detailed.