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Kuwait’s KIA, Italy’s FSI launch $2.98bn investment firm

Italian state-backed private equity fund, Fondo Strategico Italiano (FSI) has said it has established with Kuwait Investment Authority (KIA) an investment company with assets and commitments worth €2.185bn ($2.98bn), Reuters has reported. The new company, FSI Investimenti, will be 77% owned by FSI and 23% owned by KIA, it said. Both FSI and KIA have committed to inject up to €500m into the new company, with KIA expected to pay in €352m in the next few days, FSI said. The capital of FSI Investimenti could be increased in future via commitments of new co-investors, FSI added.