Investment manager Mirova has acquired a 59.4% stake in an Italian hospital concession holder.

The Natixis Asset Management subsidiary said its Core Infrastructure Fund II fund (CIF II) has bought the stake in Veneta Sanitaria Finanza di Progetto (VSFP) from Astaldi and Astaldi Concessioni for an undisclosed sum.

VSFP holds a concession agreement with the ULSS 3 Serenissima for the design, construction, operation and maintenance of Dell Angelo Mestre Hospital.

The concession agreement was signed in 2002 and construction ended in 2008. Operation will last until 2032 after a 30-year contract. During this period, VSFP provides non-sanitary/clinical and commercial services.

Gwenola Chambon, Mirova’s head of general infrastructure funds and a principal at CIF II, said: “Through this new Italian investment, we demonstrate our ability to deploy capital in high-quality assets matching our long-term investment strategy.”

Christelle Destors-Lepoutre and Pierre-Gilles Diat, who originated and executed the transaction said: “This investment fits perfectly with CIF II diversification strategy across European countries and strengthens our position on the Italian market with key industrial partners.

“We now look forward to working with our consortium partners, including Astaldi and Astaldi Concessioni, Gemmo, Consta, ASE and Studio Altieri to facilitate the continued delivery of high-quality service.”

The latest deal is the second transaction closed by Mirova in Italy after Aton per il Progetto, a district heating network and cogeneration plant in Northern Italy.