Cimino & Associati Private Equity (Cape) is launching a €110m ($126.9m) mid-market buy-out fund focusing on northern Italy to cash in on investors' growing preference for geographically-specific funds.

The fund will concentrate on Italy's industrial triangle between Milan, Padua and Bologna and will target enterprises worth less than €30m. It will look at companies with family succession issues and companies operating in consolidating sectors.