Italy

Ardian acquires sponsor position in F2i’s share capital

Ardian has acquired Bank of America Merrill Lynch's interest as financial sponsor of F2i, a specialist in strategic infrastructure investments in Italy.

The deal, which bolsters Ardian’s collaboration with F2i, was closed yesterday in Milan.
 
Ardian (formerly AXA Private Equity), through its secondary fund expertise, has acquired units in the F2i Fund (First Fund) with a total commitment of EUR150m. As part of the transaction, Ardian will also acquire 9.9 per cent of the F2i SGR’s share capital, becoming a sponsor for F2i. Ardian will also hold a seat on F2i’s board.
 
The deal furthers F2i’s investment in the infrastructure sector, which has been the firm’s focus since the launch of its First Fund. The deal also bolsters F2i’s fundraising for its Second Fund, which has a final target of EUR1.2bn.
 
The total commitment of EUR150m is equal to 15.9 per cent of A Units and 8.10 per cent of the total commitments of the First F2i Fund (EUR1.852m).

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