Infracapital agrees the sale of C2i to HISI, F2i’s platform dedicated to PPP in Italy

Infracapital, the Infrastructure equity investment arm of M&G Plc, has agreed the sale of its 100% stake in Concessioni Investmenti Infrastrutturali (“C2i”) to Holding di Investimento in Sanità ed Infrastrutture (“HISI”). C2i is a portfolio of PPP assets in Northern Italy which provide core public services to Vimercate Hospital in North Milan and Empoli Hospital west of Florence, as well as energy to the Careggi University Hospital north of Florence. 
HISI is a holding company operating in the healthcare PPP sector, currently at Alba Bra, Legnano and Este Monselice hospitals, owned by a fund managed by F2I, Italy’s leading infrastructure fund manager. 
Infracapital acquired the business in 2016, and during its ownership C2i successfully completed part of the construction and commissioning of Empoli Hospital on time and on budget, and managed the three hospitals in the portfolio, with a total of 2816 beds. Reliability and flexibility was particularly important during Covid-19 where the Italian healthcare system was hit extremely hard and experienced a shortage of beds, critically in ICU. 
Infracapital invested in C2i through Infracapital Greenfield Partners I (IGP I). The strategy of IGP I is to build, deliver and operate essential greenfield infrastructure to meet the changing needs of society and support long-term economic growth across Europe.
Michele Armanini, Managing Director at Infracapital, said: “C2i has played a critical role within public services in Italy under our ownership. It worked closely with the health authorities to respond to the changing demands during the pandemic. In addition, we are pleased to have added another exit to our track record from our greenfield strategy, creating value for our investors. We wish the company continued success.”
Paolo Soldani, CEO of Hisi Group, said: We are pleased to have signed this agreement with Infracapital, which allows us to strengthen our presence in the Healthcare PPP sector in Italy. We are committed to contribute to further development of the three entities acquired in such a strategic sector for our Country.