Temasek acquires 9% stake in FSI and commits to future funds

Singapore state investor Temasek has acquired a 9% minority stake in the management company of Milan-based private equity group FSI and will commit additional capital to its future investment funds. The partnership deepens Temasek’s exposure to Italy’s mid-sized businesses, including high-growth small and medium-sized companies, and builds on its investments in FSI’s previous funds and Italian companies such as Zegna, Golden Goose and Moncler. FSI manages about €5 billion, and the companies did not disclose the deal’s financial terms. The investment also advances Temasek’s broader push across Europe, the Middle East and Africa, where it aims to deploy €14 billion to €17 billion by 2029.