Native name | Cassa Depositi e Prestiti Equity S.p.A. |
---|---|
Formerly | Fondo Strategico Italiano S.p.A. |
Type | Società per azioni |
Industry | Financial services |
Founded | 2011 |
Founder | Cassa Depositi e Prestiti |
Headquarters | Palazzo Busca, , |
Area served | Italy |
Key people | |
Services | Merchant bank |
€249.446 million (2014) | |
Total assets | €5.564 billion (2014) |
Total equity | €4.833 billion (2014) |
Owner | Cassa Depositi e Prestiti (100%) |
Parent | CDP Group |
Website | www |
Footnotes /references In separate financial statements [1] |
Cassa Depositi e Prestiti Equity S.p.A. (formerly Fondo Strategico Italiano S.p.A.; FSI S.p.A.) also known as CDP Equity S.p.A., is a majority state-owned Italian sovereign wealth fund established in 2011. Its purpose is to invest in strategic Italian companies to help them to compete globally.
The fund was established in 2011 as Fondo Strategico Italiano. [2] : 25 Its mandate was to invest in strategic Italian companies to help them to compete globally. [2] : 25 The fund's activity is restricted to healthy and profitable Italian businesses, with solid growth prospects, in need of capital injection to enlarge their business and be competitive on a global scale. [3] The initial capital of the fund totalled €1 billion, with 90% of this sum contributed by CDP and 10% from Fintecna. The CDP is ready to inject a total amount of €4 billion. [4]
The fund was set up by the state-controlled lender Cassa Depositi e Prestiti (CDP) on the directive of Economy Minister Giulio Tremonti, emulating a similar fund in France, allegedly after French dairy company Groupe Lactalis SA made a successful takeover bid for Parmalat. [5]
The fund become a member of the International Forum of Sovereign Wealth Funds and signed up to the Santiago Principles on best precise on managing Sovereign Wealth Funds. [6] [7] [8]
In September 2011, Maurizio Tamagnini, formerly a top investment banker at Merrill Lynch, was hired as the CEO of the fund. [5] The position of chairman is filled by Giovanni Gorno Tempini, who was also the CEO of CDP, and is now its chairman of the board. [9]
On 31 March 2016, Fondo Strategico Italiano was renamed into CDP Equity. [10]
On 5 August 2016, Bank of Italy withdrew its 20% stake from CDP Equity. [11]
In May 2012, the Italian Strategic Fund stated that it would give financial backing to help fund a project that will bring fiber-optic cable to Italy's main cities, as part of the country's attempt to increase high-speed internet connectivity. The €4.5 billion project, led by fibre-optic company Metroweb (was a subsidiary of F2i First Fund via F2i Reti TLC) will receive an initial €200 million from Fondo Strategico Italiano through F2i Reti TLC. There is also an option for the fund to provide a further €300 million. [12]
In May 2012, the Fondo Strategico Italiano acquired an 18.6% stake in biopharmaceutical company Kedrion S.p.A. from holding company Sestant S.p.A. for a total of €150 million. In addition, the Fondo Strategico Italiano has an option to acquire a majority stake in Kedrion from Sestant. [13]
Also in May 2012, the defence and aerospace group Finmeccanica agreed to sell its 14% stake in aero-engine parts maker Avio to the Fondo Strategico Italiano. According to Finmeccanica, the deal is subject to Avio being listed on the Milan stock exchange before the end of 2012. [14] In November 2012, Prime Minister Mario Monti, signed with the Government of Qatar a €2 billion development project; the main investor is Qatar Holding. [15]
It was announced in March 2014, that the Fondo Strategico Italiano had made a non-binding offer for a 30% stake in the Spanish olive oil producer Deoleo. [16]
In July 2016 Enel Open Fiber acquired Metroweb from F2i SGR and Cassa Depositi e Prestiti. However, CDP Equity also acquired 50% stake in Open Fiber. [17] [18] [19]
Ansaldo Energia S.p.A. is an Italian power engineering company. It is based in Genoa, Italy. The absorbed parent company, Gio. Ansaldo & C., was started in 1853. It was taken over by Leonardo S.p.A. In 2011, Leonardo S.p.A. sold a 45% stake in Ansaldo Energia to First Reserve Corporation. In 2013, Fondo Strategico Italiano acquired an 85% share of the company. It then sold a 40% share to Shanghai Electric Corporation.
Cassa Depositi e Prestiti S.p.A., also known as CDP S.p.A., is a prominent Italian development bank founded on November 20, 1850, in Turin. Its original duty was to finance public works like roads and waterworks during the reign of Victor Emmanuel II of Italy, King of Sardinia-Piedmont.
The Ministry of Economy and Finance, also known by the acronym MEF, is a ministry of the Italian government. Its responsibilities include overseeing economic policy, public investments and spending. The Ministry's headquarters are located in Rome's historic Palazzo delle Finanze. The current minister in the Meloni Cabinet is Giancarlo Giorgetti.
The Russian Direct Investment Fund is Russia's sovereign wealth fund established in 2011 by the Russian government to make investments in companies of high-growth sectors of the Russian economy. Its mandate is to co-invest alongside the world's largest institutional investors, direct investment funds, sovereign wealth funds and leading companies.
Fondi Italiani per le Infrastrutture SGR S.p.A. or, in short form, F2i SGR S.p.A., is Italy's largest independent infrastructure fund manager, with assets under management of approximately €7 billion. It currently manages five funds and one infrastructure Debt Fund.
Fabio Gallia is an Italian banker, manager and businessman.
Cassa di Risparmio di Vercelli was an Italian retail bank and charity organization, based in Vercelli, Piedmont. In 1991 it was split into Cassa di Risparmio di Vercelli S.p.A. and Fondazione Cassa di Risparmio di Vercelli. The former was merged with another Piedmontese bank Cassa di Risparmio di Biella in 1994.
Banca del Monte e Cassa di Risparmio Faenza was an Italian saving bank and a charity organization, based in Faenza, in the Province of Ravenna, Romagna. The banking activities were merged with counterparts from Lugo to form Banca di Romagna, while the charity function was survived as Fondazione Banca del Monte e Cassa di Risparmio Faenza.
Cassa di Risparmio di Lucca Pisa e Livorno S.p.A. was an Italian saving bank based in Lucca. It was a subsidiary of Banco Popolare and currently a sub-division and brand of the group Banco BPM.
Cassa di Risparmi di Livorno is a former Italian regional bank and charity organization, based in Livorno, Tuscany. In 1992 the organization was split into a limited company and a banking foundation Fondazione Cassa di Risparmi di Livorno.
Dexia Crediop S.p.A. is an Italian bank specializing in financing public infrastructure. It was part of Dexia Group, as the owner of 70% shares. Banco Popolare, Banca Popolare di Milano and Banca Popolare dell'Emilia Romagna owned 10% each as minority shareholders.
Cassa Depositi e Prestiti Reti S.p.A. is an Italian holding company. It is a joint venture of Cassa Depositi e Prestiti, State Grid Corporation and other investors.
Metroweb Italia S.p.A. was an Italian holding company specializing in Internet and communications services through fiber optics. The company was a joint venture of F2i (53.83%) and CDP Equity, a private equity and a sovereign wealth fund respectively. In 2016 Enel acquired a stake in the company via Enel Open Fiber, with Cassa Depositi e Prestiti retained 50% stake in Enel Open Fiber.
Cassa di Risparmio di Calabria e Lucania S.p.A. (Carical) was an Italian bank based in Cosenza, Calabria. The bank was merged with other banks to form Banca Carime.
Atlante is an Italian banking sector owned bail-out equity fund that is dedicated to recapitalize some Italian banks, as well as purchase the securities of the junior tranches of non-performing loans. It was established in 2015 in response to the Italian bad debt crisis of that year. The fund was under regulation by the EU Alternative Investment Fund Managers Directive.
Open Fiber S.p.A. is an Italian wholesale only telecommunications company, owned 50% by Enel S.p.A. and 50% by CDP Equity S.p.A..
Fabrizio Palermo was born in Perugia February 5, 1971. Palermo was Chief Executive Officer and General Manager of Cassa depositi e prestiti S.p.A. (CDP) and is currently the CEO and General Manager of Acea.
Elisabetta Ripa is an Italian businesswoman, CEO of Enel X Way since April 2022 and Advisory board of IAB Italia, a consultative body established to promote digital culture. As a successful Manager, Forbes included her among the 100 most successful Italian women in 2019.
Dario Scannapieco is an Italian economist and business executive. Since June 2021 he has been CEO of Cassa Depositi e Prestiti.
Andrea Montanino is an Italian economist, and business executive, chairman of the Board of Istituto Italiano di Tecnologia and Chief Economist & Sector Strategy and Impact Director of Cassa Depositi e Prestiti.