On March 18, 2024, the FMV Industrial Infrastructure Fund I SCSp, guided by Fair Market Value Capital Partners ("FMV"), and the TD Greystone Infrastructure Fund (Global Master) SCSp, directed by TD Asset Management Inc. ("TDAM"), acquired a 28% stake in PSA Italy from its parent company, PSA International, a major global port operator. This transaction involved PSA Italy, which operates three key container terminals at the Port of Genoa and Port of Venice. These terminals are critical for traffic to Northern Italy, having handled two million TEUs in 2023.

The investment aims to bolster PSA Italy's growth within Italy and extend its reach into adjacent markets like Switzerland and Southern Germany. Frederic Michel-Verdier, FMV's CEO, emphasized the strategic importance of this partnership with PSA, noting the longstanding relationship and PSA Italy's leading role in offering green logistics in Italy. Similarly, Jeff Mouland from TDAM highlighted the transaction's alignment with their strategic focus on port sector investments and European portfolio expansion.

The deal has been approved under Italy's Golden Power regime, with undisclosed financial terms. FMV and TDAM received legal and financial advice from Santander CIB, Ashurst, Moffatt & Nichol, KPMG, McCarthy Tétrault, Cappelli RCCD, and Gallagher.