Investcorp has taken a majority stake in Corneliani.
The Bahrain-based fund is investing in the storied family-owned Italian men’s wear brand.
The enterprise value is calculated at $100 million. The deal was revealed in Milan on Tuesday morning and confirms a WWD report a day earlier.
Investcorp controls the Danish jewelry brand Georg Jensen and is a former owner of Gucci, Tiffany and Saks Fifth Avenue.