The third edition of 0100 International — organized by Zero One Hundred Conferences in partnership with the Milan City Council’s Department of Economic Development and Milano&Partners — brought together the global private markets community for a high-signal, execution-focused gathering held from October 27–29.
The event welcomed over 800 participants from more than 50 countries, including 130+ speakers representing firms with a combined ~€13 trillion in assets under management. With more than 630 Limited Partners, General Partners, and Family Offices in attendance, discussions centered on the key dynamics shaping private markets today: disciplined underwriting in a higher-for-longer environment, secondaries as a strategic liquidity tool, the shift from box-ticking to decision-useful ESG, and Europe’s competitive edge — from Italy’s family-owned industrial champions to the convergence of deep tech and the real economy.
With a curated audience of investors leading firms including 500 Global, Adams Street Partners, AltamarCam, Andbank, Ares Management, Ardian, BlackRock, BNP Paribas, Bocconi Endowment, Bridgepoint, Carlyle, Coller Capital, CDP Equity, CVC, EIF, FERI, Fondo Italiano d’Investimento, Generali Investments, H.I.G. Europe, Hamilton Lane, HarbourVest, Hercules Capital, Hg, HV Capital, Isomer Capital, KKR, LGT Capital Partners, MN, National Bank of Greece, Partners Group, Permira, Rancilio Cube, Rothschild & Co, SEB Group, Seedcamp, Schroders Capital, Société Générale Private Banking, StepStone, Unigestion, Verdane, Vitruvian Partners and many more — 0100 International 2025 has established itself as one of the most impactful private-markets gatherings in Europe.
Main highlights from type of investor:
Limited Partners & Allocators
· Through-cycle portfolio design. LPs emphasized pacing discipline, vintage diversification, and proactive liquidity planning amid elongated exit timelines—often via a barbell of core buyout exposure balanced with targeted growth, venture, and private-credit sleeves.
· Manager selection & governance. Alignment mechanisms (carry structures, co-investment access, fee transparency) and governance/data quality are non-negotiables.
· ESG → outcomes. The center of gravity shifted from headline labels to metrics tied to value creation and risk mitigation—while accounting for regional divergence in regulation and stewardship norms.
· Secondaries as a portfolio tool. GP-led and LP-led processes are being used to manage duration, generate NAV liquidity, and rebalance portfolios—provided pricing and process quality remain rigorous.
Private Equity
· Value creation over multiple expansion. Operators highlighted EBITDA-backed growth: pricing power, commercial excellence, procurement, and tech enablement.
· Sector rotation. Defensive verticals (healthcare services, critical software, mission-critical B2B) remain in favor; cyclical/interest-sensitive assets demand surgical underwriting and hedging.
· Sell-side readiness. With selective IPO windows, sponsors are running dual tracks, sharpening carve-out reporting, and instrumenting KPIs to broaden buyer universes (strategics, infra, and private-credit solutions).
· Co-investments & tempo. Robust pipelines persist, LP participation hinges on speed, information symmetry, and alignment.
Venture Capital & Growth
· From “growth at all costs” to efficient scale. Capital efficiency, milestone-based rounds, and strong governance have replaced momentum investing.
· Deep tech meets the real economy. Energy transition, industrial automation, bio-economy, and applied AI dominated—focused on translating lab breakthroughs into scalable, capital-light models.
· Impact beyond acronyms. The conversation reframed “impact” around intentionality and measurable, scalable outcomes—avoiding reporting bloat that obscures performance.
· Secondaries & continuation vehicles. Structured solutions are increasingly supporting late-stage liquidity and aligning timelines between founders, early VCs, and new growth investors.
Private Credit (Cross-Track)
· All-weather characteristics. Senior secured direct lending, asset-based finance, and specialty credit continue to attract demand for floating-rate income and covenant protection.
· Underwriting & protections. Tighter documentation, sector selectivity, and real-time monitoring are essential as competition rises.
· Sponsor vs. non-sponsor. Blending sponsor-backed deal flow with proprietary, asset-backed opportunities was viewed as resilient across cycles.
Spotlight: Italy’s Evolving Opportunity Set
Milan’s ecosystem featured prominently as a launchpad for founder-led and family-owned businesses seeking partners to professionalize governance, digitize operations, and expand internationally. Investors pointed to:
· Succession and buy-and-build openings across industrial niches and services;
· Export orientation and pricing power in premium “Made in Italy” categories;
· Technology adoption in manufacturing, healthcare, and fintech; and
· A supportive capital gateway in Milan, where international and pan-European platforms increasingly use Italy as a growth node.
The consensus: Italy’s blend of resilient mid-market champions and succession dynamics remains compelling for buyout, growth equity, and tailored private-credit solutions.
By the Numbers
· Registrants: 800+
· Speakers: 130+
· Combined AUM of attending firms: ~€13 trillion
· Attendee footprint: 50+ nationalities (including Singapore, Australia, New Zealand, India)
· LPs/GPs/Family Offices: 630+
· Seniority: 80% Partner/C-level/Director
About 0100 Conferences
Zero One Hundred Conferences is a leading platform for private equity and venture capital networking across Europe. Since its founding, it has hosted more than 50 events in over 15 countries, featuring 1,600+ speakers and 15,000 participants.
