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Temasek Buys 9% Stake in Italy's FSI, Commits to Future Funds
The partnership extends Temasek’s decade-long Italy push and gives FSI more capital to back small and midsize companies seeking international growth.
- On Monday, Singapore investment firm Temasek acquired a 9% stake in Milan-based growth equity investor FSI's management company, with commitments to invest additional capital in future FSI funds.
- Temasek has invested in Italy for over ten years, holding interests in luxury companies like Ermenegildo Zegna and Moncler. The Singapore firm manages a portfolio worth $518 billion across Europe and beyond.
- FSI manages about $5.7 billion in assets and defines Italy's mid-market as businesses with revenues between 70 million and 200 million euros. Financial terms of the deal remain undisclosed.
- Nagi Hamiyeh, president of Temasek Global Investments, called Italy an "integral" part of the firm's Europe strategy. The partnership enables Temasek to support Italian companies as they scale internationally.
- FSI co-managing partner Barnaba Ravanne noted the partnership acts as an "accelerator" for international growth. The deal targets Italy's mid-market, comprising around 10,000 companies seeking institutional capital.
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Singapore’s Temasek Buys Minority Stake in Italian PE Firm FSI
·New York, United States
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Temasek buys 9% stake in Italy's FSI, commits to future funds
·London, United Kingdom
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Temasek takes 9% stake in Italian PE firm FSI
Singaporean state investment company Temasek Holdings has acquired a 9% minority interest in the management company of Italian private equity firm FSI, strengthening an existing relationship between the two investors that dates back to 2018, according to a report by Bloomberg.
Singapore's sovereign wealth fund entered into a strategic partnership with a development capital company to support the growth of Italian companies.
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