UniCredit Group launched a strategic review of its Pioneer Investments business in May 2010. UniCredit is an Italy-based pan-European banking organization with approximately 40 million customers and operations in 22 countries. Pioneer Investments was founded in 1928 with the establishment of the Pioneer Fund, and today has around €178 billion assets under management and offers a wide range of products across both traditional and nontraditional asset classes. These are managed by its global investment centres in Boston, Dublin and other local investment centres like Milan, Munich, and Warsaw.
"iRooms helped us manage a complex yet effective international bid process that involved more than 120,000 documents and over 400 people.
Key to the strategic review of Pioneer was establishing a virtual data room for a wide range of bidders, who were able to access more than 120,000 pages of information via an iRooms virtual data room. The iRooms VDR operated between December 2010 and April 2011 and provided access to more than 400 individual users.
What were the challenges?
- Working with an Italian-speaking, experienced project manager based in Milan was critical – alongside having 24/7 access to a European helpdesk
- 120,000 pages of data needed to be accessed by over 400 users, all of who needed quick and easy access to relevant data – preferably using a site with an interface in their preferred language.
How did iRooms add value?
iRooms’ local team in Milan worked with Pioneer Investments alongside the iRooms team in London to set up the data room, which included uploading 120,000 pages of documentation in an accelerated timetable."
Davide Colombo, Global Head of Organisation at Pioneer Investments said, "We found that the iRooms VDR was of a higher quality than other systems and offered value for money. Our selection was based on a combination of recommendation, value and quality."
“The system was easy to use and we didn't need any formal or specialist training to set it up. The process of establishing different levels of security access was straightforward and handled for us by the Imprima team. We also found it easy to receive and manage questions sent to us about the organisation from the various bidders electronically.”
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