Tuesday, March 20, 2018

F2i’s Third Fund results: Renato Ravanelli expressed great satisfaction

Good news for F2i - Fondi Italiani per le Infrastrutture , which reaches a better goal than expected: the gathering of the fundraising in the Third Fund will be raised to 3.6 billion euros

F2i - Italian funds for infrastructures: new results for its Third Fund. Renato Ravanelli's statements

F2iF2i - Fondi Italiani per le Infrastrutture reached an unexpected, yet fulfilling goal with its Third Fund launched in 2017. As Chief Executive Officer Renato Ravanelli stated, the target of the Third Fund has been raised from 3.3 to 3.6 billion. As per CEO's statement, this fundraising could reach a higher goal, that Renato Ravanelli identified in 4 billion euros. F2i's choice appears to be, instead, to "keep a balance between our portfolio and fresh resources." What especially pleases CEO Renato Ravanelli is the response the company received from both domestic and international investors. An important sign of this continued support has been shown in December, when foreign LPs, that already supported F2i's First Fund, demonstrated further trust with another deposit of a total amount of 1.74 billion euros. Another 1.4 billion euros were gathered by F2i from international and domestic sovereign and pension funds, as well as asset management firms and insurance companies. Among the investments F2i is looking at, thanks to this fundraisings, appears the offer that the Renato Ravanelli guided company submitted for Persidera, that is an Italian digital TV services provider, which operates in joint with RaiWay. This purchase, indeed, would see both F2i and RaiWay share the frequency rights and network infrastructure of Persidera, as per the terms of the bid. This would mean that both companies "will contextually subscribe a long-term agreement for the supply of broadcasting services". No comments have been recorded from Renato Ravanelli about price details. The CEO stated "the bid [of F2i and Raiway] includes earn-out figures and further bonuses that may match vendors expectations. This transaction has a value lower than our usual standards, but it would allow F2i to set a footprint in a sector that is going towards a wave of consolidation in Italy and in Europe", confirming the strategic value of this asset. One last acquisition F2i's CEO is willing to discuss is the one about the stake owned by Milan municipality airports' management company SEA, whose worth is reported to be 1 billion euros.

About F2i, the fund which invests in Italian infrastructures

Major Italian closed-end fund, and one of the biggest in Europe, F2i - Fondi italiani per le infrastrutture is a Saving Management Society (SGR) born in 2007 thanks to its partnership with institutions, international banks, credit institutes, banking foundations, as well as public welfare funds. F2i has its main aim in the improvement of Italian infrastructural asset, renewing it in order to make it competitive from an European and international point of view. This company invests in different sectors, such as transports, telecommunications and media, gas, energy and water distribution, social infrastructures, public services and waste management. Those investments are possible thanks to the fundraising gathered in three funds: The First Fund, started in 2007, the Second Fund, started in 2012, and the Third Fund started in 2017. Since 2014, Renato Ravanelli guides F2i as CEO.