PATRIZIA Infrastructure has announced its EUR140 million (US$139 million) investment in Italy’s smart streetlighting company Selettra Illuminazione Pubblica from Fondo Italiano per l’Efficienza Energetica (FIEE) and its founders through its flagship smart cities strategy the single LP fund with Dutch pension giant APG the Smart City Infrastructure Fund (SCIF).

The transaction entered into on behalf of its institutional investor involves accelerating PATRIZIA’s growth ambition and strategy to enable smarter, better-connected cities in key markets around the world and building a EUR180 million (US$179 million) portfolio of smart streetlighting companies, which grow SCIF’s footprint and build an experienced technical and business development team with strong municipality connections in a new region. 

ValeCap acted as a financial advisor (M&A) to PATRIZIA, Andersen as legal, Fichtner as technical and Ernst & Young provided financial, tax and commercial services.