Temasek acquires 9% stake in Italian investor FSI

Singaporean investment firm Temasek has acquired a 9% minority stake in the management company of FSI, an Italian growth equity investor. FSI currently manages approximately €5 billion in assets.

This strategic partnership aims to deepen Temasek’s exposure to the Italian mid-market, specifically targeting high-growth small and medium-sized enterprises (SMEs). Temasek has also committed to providing additional capital for FSI’s future funds, including the Scale-up Capital Solutions fund launched in 2026.

Temasek has maintained an investment presence in Italy for over a decade, holding direct and indirect interests in prominent companies such as Moncler, Ermenegildo Zegna Group, and Golden Goose. The collaboration leverages FSI’s local market expertise and institutional platform to support the international expansion of Italian niche leaders.