Infrastructure funds managed by Fair Market Value Capital Partners (FMV) and TD Asset Management (TDAM) have acquired a 28% stake in PSA International’s container terminals business in Italy.
FMV Industrial Infrastructure Fund I and TD Greystone Infrastructure Fund have invested an unspecified amount to jointly acquire the interest in PSA Italy from the global port operator.
PSA Italy operates three container terminals in the Port of Genoa and Port of Venice. The capital injection is expected to help continue to support the firm’s strategy to grow both within the local Italian market as well as the expansion of its hinterland into neighbouring markets including Switzerland and Southern Germany.
Frederic Michel-Verdier, founding partner and CEO of FMV, said the investment in PSA Italy is the culmination of a decade-long professional relationship with PSA.
“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.”
Jeff Mouland, managing director and head of global infrastructure investments for TDAM, said, “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.”
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