Kairos Investment Management, a London-based alternatives specialist, has reached a multimillion euro settlement with the Italian taxman over claims dating back to 2001, it has emerged in the firm’s annual accounts.

The investment manager, which is a subsidiary of Italy's Kairos Investment Management SpA, reached an agreement worth €11 million with Agenzia delle Entrate in November 2015, the firm confirmed in its accounts for the year ended December 31, filed at Companies House on March 9.