The new investment veichle is looking for 1.5 billion euros of new capital raised among international investors with one of the biggest international pension funds and one of the biggest sovereign funds (maybe Singapore’s GIC) among them. Also many actual investors such as Italian pension funds, banking foundations and Cassa depositi e prestiti are expected to subscribe the new fund.
F2i’s third fund will also inglobe first fund’s remaining portfolio which is valued about 1.5 billion euros. the deal is expected to be finalized by mid-December.
F2i’s first fund owns stakes in some Italian airports (Napoli, Torino, Alghero and Bologna), in airport handling company Sea Milano and in the renewable sector, where it is the major solar operator jointly with Enel, a major gas distributor with 2i Rete Gas and a major operator in the integrated hydric cycle withIren Acqua.
Sponsor of F2i’s first fund, which closed its fundraising in February 2009 with 1,852 million euros raised, were: Cdp, Intesa Sanpaolo, Unicredit group, Ardian, Fondazione Cariplo, Fondazione Cassa di Risparmio di Torino, Fondazione Cassa di Risparmio di Lucca, Fondazione Cassa di Risparmio di Padova e Rovigo, Fondazione Cassa dei Risparmi di Forlì, Inarcassa(Cassa nazionale di previdenza e assistenza per gli ingegneri e architetti liberi professionisti) and Cipag (Cassa previdenza e assistenza dei geometri liberi professionisti).
Sponsor of F2i’s second fund, which closed its fundraising in July 2015 with 1,242,5 million euros raised, were: Cdp, Intesa Sanpaolo, Unicredit group, CIC (China Investment Corporation), NPS (National Pension Service), Fondazione Cariplo, Fondazione Cassa di Risparmio di Cuneo, Fondazione Cassa di Risparmio di Lucca, Fondazione Banco di Sardegna, Ente CR Firenze, Compagnia di San Paolo, Inarcassa and Cipag.
F2i sgr’s capital is instead controlled by Cdp, Unicredit and Intesa Sanpaolo, each with a 14% stake, while Ardian owns a 8,4% stake and banking foundations and Italian pension funds own the rest. F2i’s shareholders are also investors in F2i’s funds . However last July Ardian announced that it was going to buy Unicredit’s stakes in all F2i’s fund by the end of this Autumn (si veda altro articolo di BeBeez).