F2i, Italy's leading infrastructure fund, and Asterion Industrial Partners, a premier European infrastructure fund, have executed a term sheet with CDP Equity (CDPE), the investment holding company controlled by Cassa Depositi e Prestiti, for the entry of CDPE into the share capital of 2i Aeroporti S.p.A.
Under the terms of the transaction, CDPE will acquire an 8.9% stake in 2i Aeroporti, with 8% to be divested by Asterion and 0.9% by the Third Fund managed by F2i. Upon completion, F2i will hold 50.1%, Asterion 41%, and CDPE 8.9% of 2i Aeroporti's share capital.
The transaction is aimed at broadening the existing partnership in the airport sector through 2i Aeroporti, with a view to jointly pursuing new investment opportunities in Italy and across Europe in the near and medium-to-long term, including participation in privatisation processes.
2i Aeroporti currently operates Italy's largest airport network, comprising 6 airports: Milan Linate and Milan Malpensa, Naples, Turin, Trieste and Salerno. F2i also holds equity stakes in the airports of Olbia and Alghero.
In 2025, the aforementioned airports handled a combined 68 million passengers, representing approximately 30% of total passenger traffic in Italy, and 777,000 tonnes of cargo, accounting for approximately 60% of total air freight in Italy.
Next steps include the completion of a due diligence process by CDP Equity, with the objective of closing the transaction within the coming months.
F2i SGR
F2i SGR is Italy’s leading independent infrastructure fund manager. The funds managed by F2i up until now, amounting to approximately 11 billion euros between equity and debt, have been subscribed by leading Italian and international institutions. The companies in F2i’s network constitute the country’s main infrastructure platform, diversified across several strategic sectors: transport and logistics, energy for the transition, digital infrastructure, distribution networks, social infrastructure, circular economy and utilities. Led by Chief Executive Officer Renato Ravanelli, F2i’s portfolio companies employ around 13,000 people, whose work makes it possible for millions of people to use the services and infrastructure essential to their daily lives. F2i’s shareholders include leading financial institutions, including banking foundations, social security institutions and Italian and international pension funds, national and international asset managers and sovereign wealth funds. F2i participates in the United Nations Global Compact and adheres to its approach based on the principles of responsible business
Asterion Industrial Partners
Asterion Industrial Partners is an independent investment firm focused on mid-market infrastructure investments across Europe. Founded in 2018, the firm currently manages approximately €8 billion in assets under management across multiple funds and co-investments. Headquartered in Madrid with an office in London, Asterion combines deep investment and transaction expertise with an industrial approach and active asset management, operating through an independent and agile platform
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