The FMV Industrial Infrastructure Fund I SCSp – advised by Fair Market Value Capital Partners (FMV) – and the TD Greystone Infrastructure Fund (Global Master) SCSp (TDGIF), advised by TD Asset Management (TDAM), announced that they jointly acquired a 28% interest in PSA Italy from PSA International.
PSA Italy runs three container terminals in the Port of Genoa and Port of Venice, the premier gateway terminals serving the Northern Italian hinterland, handling two million TEUs last year.
Through their investment in PSA Italy, FMV and TDGIF will continue supporting PSA Italy’s strategy of growing in the local Italian market and expanding its hinterland into more markets, such as Switzerland and southern Germany.
Santander CIB, Ashurst, Moffatt & Nichol, KPMG, McCarthy Tétrault, Cappelli RCCD, and Gallagher advised FMV and TDAM.
KEY QUOTES:
“This investment in PSA Italy is the culmination of a decade long professional relationship with PSA. We are delighted to be partnering yet again with PSA, a truly global leader in the ports and terminal business, on investing in this prime asset. We are impressed by the world-class operation run by PSA Italy’s management and employees. PSA Italy is the leading portfolio of gateway terminals in Italy and is uniquely positioned to provide green logistics services to its highly industrious customer base in Northern Italy and beyond. We look forward to building on the strong relationship we have with both PSA and TDAM, through this investment in PSA Italy.”
– Frederic Michel-Verdier, Founding Partner & CEO of FMV
“TDAM is thrilled to be partnering with PSA and FMV in this transaction. The port sector is a strategic focus of our fund’s global diversification and the ability to further expand our European port portfolio represents a unique opportunity for our strategy. We look forward to building on our investment in PSA Italy and expanding our ongoing cooperation globally.”
– Jeff Mouland, Managing Director and Head of Global Infrastructure Investments for TDAM
