Fondo Strategico to co-invest with Chinese sovereign wealth fund

Italy's Fondo Strategico Italiano (FSI) has signed a co-investment agreement with CIC International, the Chinese sovereign wealth fund.

The agreement is intended to underpin increased economic cooperation between Italy and China.

Both parties will commit a maximum of €500m.

In 2014, the fund manager announced a partnership with Kuwait Investment Authority, creating a fund, FSI Investimenti, with €2.185bn of commitments and assets.

As part of the partnership, FSI agreed to transfer the majority of its portfolio to FSI Investimenti including its interests in Metroweb Italia, Kedrion, IQ Made in Italy Investment Company and 44.55% of Ansaldo Energia.

The GP's stake in Assicurazioni Generali (earmarked for exit in 2015) and 40% shareholding in Ansaldo Energia were excluded from the transaction.

PE players are hoping that valuation expectations will align in 2H 2023, easing dealmaking backlog

Deal marks the fund’s full deployment with more than EUR 50m invested across nine transactions

Marco Lattuada previously oversaw activities including M&A and debt capital markets at the Italian firm

Álvaro Hernández to lead new Spanish branch; healthcare will be first focus of Swiss expansion

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

Czech Republic-headquartered family office is targeting DACH and CEE region deals

Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO

Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds