Hayfin acquires 55 telephone exchanges in Italy in the biggest deal for the sector in 2021

The Telco Infra 2 fund, managed by Prelios sgr and fully subscribed by Hayfin Capital Management, acquired 55 telephone exchanges in Italy. The seller is the Clarice Light Industrial fund, managed by Prelios sgr itself (see the press release here). The Clarice Light Industrial fund was established in 2004 when 70 entirely leased properties, mainly for light industrial use, were contributed by Tiglio I srl and Tiglio II srl,  which were companies indirectly controlled by the Morgan Stanley Real Estate Funds (see here the press release at the time). We recall that Tiglio I and Tiglio II were two companies to which in 2002 properties for a total value of 4 billion euro were transferred by the joint ventures between Morgan Stanley Real Esta