Temasek buys 9% stake in Italy's FSI, commits to future funds

Ermenegildo Zegna NV

28/09/2026 07:30

MILAN, Sept 28 (Reuters) - Singapore state investor Temasek has bought a 9% minority stake in the management company of Milan-based private equity group FSI and committed additional capital for future investments, the companies said in a joint statement on Monday.
The deal deepens Temasek's exposure to Italy and strengthens its partnership with FSI, which manages around €5 billion ($5.7 billion), focusing on Italian mid-sized companies, the statement said.
Temasek has been stepping up investment across Europe, the Middle East and Africa. It has a target of investing €14 billion to €17 billion in the region by 2029, and had invested about €13 billion in the two financial years to March 31, 2026.  
The Singapore investor, which manages a portfolio worth S$518 billion ($406 billion), has been investing in Italy for over ten years and holds interests in companies including luxury groups Ermenegildo Zegna ZGN.N, Golden Goose and Moncler MONC.MI. 
It has also invested in FSI's previous funds.
FSI added Temasek would also commit capital to future investment vehicles, including those focused on high-growth small and medium-sized Italian businesses. 
The statement did not disclose the financial terms of the deal.
($1 = 1.2772 Singapore dollars)
($1 = 0.8779 euros)

 (Reporting by Giulia Segreti; Additional reporting by Yantoultra Ngui in Hong Kong; Editing by Jan Harvey)
 ((Giulia.Segreti@tr.com; +39.06.80307714;))