CDP Equity started in 2011 as Fondo Strategico Italiano and is an institutional investor acquiring mainly minority holdings in companies of “significant national interest”, which are balanced economically, financially and balance sheet wise. Investee companies need to have adequate profitability and development prospects that are suitable for generating value for investors.
Companies, which operate in the following sectors, are considered to be of “significant national interest” (as established by the decree of the Minister for the Economy and Finance dated 2 July 2014):
- insurance and financial brokerage
- hi-tech research and innovation
- public services
- tourism and hospitality
- food and food distribution
- management of cultural and artistic heritage
CDP Equity's majority shareholder is Cassa depositi e prestiti Group Spa, which is controlled by the Italian Ministry of Economy and Finance, and is active in supporting the economy and the infrastructural development. Bank of Italy is the minority shareholder.
In accordance with its long-term horizon and its investment objective, CDP Equity participates in the corporate governance of its portfolio companies entering into agreements with the other shareholders of the investee companies with the aim of:
- ensuring an adequate level of representation and active governance
- ensuring a constant information flow
- identifying options for the development of the company
- developing an exit plan, at market conditions, with a focus toward the listing of the company
CDP Equity is open to joint-investments with other primary industrial and financial partners that show interest in individual transactions. The selection of such partners is performed on the basis of the contribution that the partners can bring to the development and the governance of the company.
CDP Equity has agreements with a number of other sovereign wealth funds, such as The Kuwait Investment Authority, Qatar Investment Authority, Korea Investment Corporation, The Russian Direct Investment Fund and China Investment Corporation.
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