F2i’s Third Fund achieves a €3.6 Billion final closing

Exceeding its original target by more than 600 Million euros.
With italian and international investors contributing equally to the fundraising's success.

Milan, 8 November 2018. Today marked the traditional F2i Investor Day, a periodic encounter between F2i management and portfolio companies, on the one hand, and shareholders of the asset management company, together with investors, on the other.
During the event, F2i announced the recent final close of F2i's Third Fund , that reached 3.6 billion euros, 600 million euros higher than the target set in December 2017, at the time of the launch of the Fund.
This excellent result, and the short amount of time needed to complete the fund raise, was made possible by existing investors (F2i's First and Second Funds had raised 1.8 billion and 1.25 billion euros, respectively), as well as a significant contribution from new investors. Subscribers to F2i's Third Fund include pension funds, sovereign funds, bank foundations, insurance companies and asset managers, with Italian and international investors (from Europe, Asia and North America) contributing in equal measure to the success of the fundraising effort.
The Third Fund - with a 12-year duration - started operating with an impressive portfolio inherited from the merger with F2i's First Fund, including airports, natural-gas networks, waterworks and photovoltaic plants.
Since December 2017, F2i has already concluded for its Third Fund transactions aimed at consolidating the existing holdings: new acquisitions in the photovoltaic sector have made possible the creation of one of the leading groups in Europe, with an installed power capacity of more than 800 MW, while the airport portfolio has been reinforced through the acquisition of additional minority stakes in the companies that manage the airports of Milan, Naples and Turin.
In addition, the Third Fund recently acquired a controlling interest in EI Towers, Italy's leading independent operator of TLC and broadcast towers. This investment will serve as a major industrial platform for the consolidation of the sector currently underway.

"We are pleased to announce the final close of our Third Fund, marking the culmination of a highly ambitious project whose goal was to raise new capital, both Italian and foreign, in order to continue developing, in Italy, the major infrastructural platforms already in the portfolio, while undertaking new initiatives in sectors of strategic importance to the country," stated the CEO of F2i, Renato Ravanelli.

Dow Jones Sustainability Index: Terna, managed by Luigi Ferraris, leads worldwide the Electric Utilities area

Terna received its highest ever score in the 2018 Dow Jones Sustainability Index: 91/100, against an average score of 46/100. The Italian company managed by CEO Luigi Ferraris and Chairman Catia Bastioli leads the Electric Utilities sector.

Dow Jones Sustainability Index: Terna is world leader in the Electric Utilities Sector

The commitment of Terna to sustainability is growing faster: the Italian company managing the National transmission grid is world leader in the Electric Utilities Sector according to the 2018 Dow Jones Sustainability Index. The Group led by CEO Luigi Ferraris received its highest ever score (91/100, against an average sector score of 46/100). This is the tenth confirmation for the company, with an improvement of 4 points on the previous year score. Terna comes in first place for the Electric Utilites area for the following economic criteria: Materiality, Risk and crisis management, Policy influence; for the environmental criteria: Environmental reporting, Operational eco-efficiency, Transmission and distribution, and in the social criteria: Social reporting, Human capital development, Corporate citizenship and philanthropy. RobecoSAM, the Swiss sustainability rating agent, also confirmed Terna's inclusion in the World and Europe indices. The achievement is something to be proud of, as expressed by CEO Luigi Ferraris, who stated that "for Terna, sustainability represents a strategic lever that guides our business towards a more sustainable energy paradigm that is capable of continually adding value for companies and society as a whole." The manager also added that the placement on the Dow Jones Sustainability Index "is the recognition for our efforts to introduce an inclusive model to our business, paying attention to the requests of the local communities and our stakeholders." The company is, in fact, present in the following international sustainability indices: Euronext (World, Europe e Eurozone), FTSE4Good (Global e Europe), STOXX® ESG (Global, Environmental, Social e Governance), STOXX® Low Carbon, ECPI, ESI (Ethibel Sustainability Index, MSCI, United Nations Global Compact ('GC100').

The company profile of Terna

Terna is one of the main European electricity transmission grid operators. The company managed by CEO Luigi Ferraris plays a central role in transforming the electricity market towards the use of eco-compatible sources, guaranteeing a secure and efficient supply to households and businesses. The public service mission, as the majority owner of the Italian high voltage and very high voltage electricity National Transmission Grid, is to secure the transmission and dispatching of electricity throughout the country. Terna is listed on the Stock Exchange since 2004 and focuses on efficiency, profitability and performance. Sustainability is a key value for the company, as stated by the motto: "Energy is our responsibility. Responsibility is our energy". Terna is focused on developing renewable sources, which is crucial in helping Italy through a complete energy transformation as decarbonization is already at the door. The mission is, in fact, to play a leading role for this transition, leveraging innovation, skills and distinctive technologies with the goal of generating value for all stakeholders. The company managed by Luigi Ferraris is internationally oriented: the commitment is to make its role even more central within Europe to strengthen Italy's position as electricity hub between Europe and the Mediterranean

IRIDEOS: TIER IV CERTIFICATION FOR THE DATA CENTER IN ROME

Milan, 17th September 2018. IRIDEOS, the new Italian ICT hub for companies and the Public Administration, obtained from the Uptime Institute Tier IV Design certification for its data center in Rome.

The Uptime Institute, the US agency that classifies the data centers according to four levels, has recognized to the Roman data center of IRIDEOS the highest level of guarantee for business continuity, with an availability of over 99.99%.
The Roman data center of IRIDEOS has a completely redundant architecture in terms of electrical systems, cooling and fiber optic network that allows maintaining the integrity of service without ever interrupting the availability of servers and network devices hosted on the date center.
"Tier IV criteria are based on the ability to detect and isolate a fault within critical systems in a facility without impacting on energy delivery and cooling to critical areas."- explains Sandro Falleni, Director of Technologies and Systems of IRIDEOS -" The IRIDEOS customers who entrust us with their systems have the highest guarantee of security and operational continuity, thanks also to redundant fiber connections and customized solutions for Disaster Recovery and Business Continuity. "
IRIDEOS thus enters the restricted number of companies in Italy to have obtained Tier IV certification and is the only one to have a Tier IV certified data center inside Rome's Grande Raccordo Anulare.
The IRIDEOS technological platform integrates 12 data centers, in Milan, Rome, Trento and Verona, all connected with proprietary fiber, the largest Italian private Internet exchange (Avalon) and a fiber-optic network of over 15,000 km along major highways. Two advanced cloud platforms (based on OpenStack and VMware) and a team dedicated to the management of customers' information systems complete IRIDEOS distinctive features.
Infrastructures and expertise allows IRIDEOS to better support companies in their digital transformation process, with advanced and customized connectivity, data center, cloud and outsourcing solutions.

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

F2i - 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.