Italian fund of funds manager Advanced Capital is opening an office in London, according to its chairman, a move that comes as the firm gears up to double its assets under management and advisory.

The Milan-based firm, which has relationships with buyout firms including Blackstone Group and Centerbridge Partners, is set to open its first UK office this month, according to chairman Robert Tomei. Tomei has spent an increasing amount of time in London in recent years, although the opening of the office is Advanced Capital's first physical presence in the capital.