MILAN: Singapore state investor Temasek has bought a 9% minority stake in the management company of Milan-based private equity group FSI and committed additional capital for future investments, the companies said in a joint statement on Monday.
The deal deepens Temasek's exposure to Italy and strengthens its partnership with FSI, which manages around €5 billion ($5.7 billion), focusing on Italian mid-sized companies, the statement said.
Temasek has been stepping up investment across Europe, the Middle East and Africa. It has a target of investing €14 billion to €17 billion in the region by 2029, and had invested about €13 billion in the two financial years to March 31, 2026.
The Singapore investor, which manages a portfolio worth S$518 billion ($406 billion), has been investing in Italy for over ten years and holds interests in companies including luxury groups Ermenegildo Zegna, Golden Goose and Moncler .
It has also invested in FSI's previous funds.
FSI added Temasek would also commit capital to future investment vehicles, including those focused on high-growth small and medium-sized Italian businesses.
The statement did not disclose the financial terms of the deal. - Reuters
