Threestones Team


20 years of experience in construction, real estate and in the banking and financial sector. From 2000 to 2006 he worked as project manager in the construction industry in Italy and Germany, overseeing high profile development projects including infrastructure and social housing. From 2006 to 2009 he was entrusted with the management of several European real estate funds at a Swiss-based family office, where he was, amongst other things, in charge of a nursing homes portfolio in Germany, various urban renewal projects in Italy and other major projects in Southern and Eastern Europe. He is a founding partner of Threestones Capital.

Alessandro Sparaco
Managing Partner

Over 25 years of experience in the fields of private equity, real estate and in the banking and financial sector. He began his career in business consulting with KPMG and PwC. From 1998 to 2003 he was Associate Director in the global team of Société Générale de Surveillance Holding SA, where he successfully participated in private equity transactions with a value of over 800 million USD in the health care sector. From 2003 to 2009 he was chief investment officer at a Swiss-based family office. He is a founding partner of Threestones Capital.

Giovanni Perin
Managing Partner

Over 20 years of experience in the property and construction industry, in the financial sector and private equity. From 2000 to 2004 he worked in the construction industry in Italy, where he was responsible of important projects of infrastructure development. From 2004 to 2009 he was manager of Berlin-based Viam GmbH, a company that manages “niche” real estate portfolios in the residential and nursing homes sector in Germany. He is a founding partner of Threestones Capital.

Francesco Sparaco
Managing Partner


15 years experience in corporate finance and transactions in Europe (management, financing and due diligence) in various industries. From 2008 to 2011 he worked at PwC corporate finance team in Luxembourg. Between 2011 and 2013 he was an investment manager in the private equity fund Saphir Capital Partners. Since 2013 he has been managing his financial and strategic advisory company. He joined the Threestones team in 2015.

Raffaele Levi-Minzi
Head of Investments / Portfolio Manager

Over 5 years of experience in real estate in Germany and Luxembourg. Degree in real estate management. From 2010 to 2013 she worked as a real estate manager and real estate appraiser in Germany. From 2013 to 2014 she was employed as commercial project manager and controller at the well-known real estate developer Hochtief Luxembourg SA, a subsidiary of the German construction giant Hochtief. She joined the Threestones team in 2014.

Liana Allwicher
Senior Investment Analyst

Over the last 5 years Michel gained considerable experience in real estate management and valuation in Luxembourg and Germany. From 2011 to 2013 he was employed as broker at a real estate agency in Luxembourg. He moved to Germany in 2013 where he earned his spurs while working in the acquisitions department of a developer specialized in listed buildings. After having absolved an apprenticeship as Real Estate Manager in Germany he enrolled in the real estate management study program at the College of Estate Management in the UK. Michel joined Threestones in late 2015 as Investment Analyst.

Michel Mreches
Investment Analyst


Over 10 years of experience in compliance and fund administration. From 2003 to 2006 Sylvie worked at the back office department at the headquarters of the Luxembourgish insurance group Foyer. From 2006 to 2011 she was a AML/KYC officer at European Fund Administration SA (EFA), the leading company in Luxembourg for the management of funds approved and regulated by the CSSF. In 2011 she moved to the private equity and real estate funds department of EFA where she was employed as fund administrator. Sylvie joined the Threestones team in 2013 as Operations Manager.

Sylvie Pinto
Compliance & Operations Manager / Investor Relations

Over the last few years Andy has been immersed in the field of Compliance. From 2012 to 2016 she was employed at Bonn & Schmitt Avocats where she worked in tight collaboration with experienced lawyers in the Compliance department. She lived in United States for about 8 years where she graduated as a Graphic Designer. Today Andy keeps a good balance between her artistic talents and her devotion for Compliance. Andy joined the Threestones team in 2016 as AML/KYC Analyst.

Andy Mendes
AML/KYC Analyst / Investor Relations

After having gained first experience in the letting and property management sector from 2011 to 2013 in Luxembourg, she worked, between 2013 and 2015, in the well-known Luxembourgish construction company Rollinger Toiture S.A. In addition to her tasks as Team Assistant, she was responsible for the preparation of tender documents and the drafting of submission forms. She joint the Threestones team in late 2015.

Aurelia Bianchini
Assistant Operations Manager


Ilaria holds a Bachelor in International Sciences and European Institutions from the Università degli Studi di Milano and a two year Master degree in European Governance.
In 2014 she worked as Research Team Assistant at the Luxembourg University and in 2015 she did her traineeship at the Luxembourg Chamber of Deputies.
Moreover, Ilaria assisted in 2016 the Red Cross.
She joined the Threestones team in 2017 as Executive Assistant.

Ilaria Ragone
Executive Assistant