Singaporean state investment company Temasek Holdings has acquired a 9% minority interest in the management company of Italian private equity firm FSI, strengthening an existing relationship between the two investors that dates back to 2018, according to a report by Bloomberg.
The value of the transaction has not been disclosed.
Temasek is already an investor in FSI’s Scale-up Capital Solutions strategy, which focuses on smaller mid-market opportunities in Italy.
Milan-based FSI focuses on Italian investments in mid-market companies, generally targeting businesses with annual revenue of between €70m and €200m and earnings before interest, taxation, depreciation and amortisation of €10m to €30m.
The report cites information published by FSI as revealing that the the firm’s existing flagship strategies have raised approximately €1.4bn and €1.6bn respectively.
The partnership will also give FSI access to Temasek’s international network and sector expertise as the private equity firm looks to support the expansion of its portfolio companies beyond Italy.
