The first Italian Public Property Agency announcements concerning the Valore Paese project to increase the value of public property are on the way. Unused properties belonging to the State, Regions and Municipalities will be granted to private persons until 50 years.
Fondo Strategico Italiano Enters First Hotel Investment
Italy’s sovereign wealth fund, Fondo Strategico Italiano, entered into its first hotel venture by investing in Rocco Forte Hotels. The $95 million investment will allow Rocco Forte Hotels to double its portfolio over five years as well of pay off a portion of its $167 million debt. Fondo Strategico Italiano will receive 23% stake in the company and will take on the role of a strategic investor. Fondo Strategico Italiano is comprised of two Italian banks, Cassa Depositi e Presiti and The Bank of Italy. It was established by the Italian government in 2011 to “invest in strategic Italian companies and assets.” The sovereign wealth fund intends to stay in the top end of the market, focusing on 3 and 4-star properties.
