New role for Francesco Starace after nine years as CEO of Enel. EQT, Swedish investment management fund, ha announced the appointment by Starace as new Partners ofAdvisory Team di EQT Infrastructure. The Italian manager will focus on supporting EQT's portfolio companies and helping define investment strategies.
Recently EQT Infrastructure has signed a agreement to acquire 60% of Wind Tre network. The goal is there creation of a newco which will have the fixed and mobile network of the Italian operator, in a transaction that establishes an enterprise value of 3,4 billion euros.
“Over the years, I have had the opportunity to observe the work done by EQT Infrastructure, whose level of innovation and the great support it has always given to companies committed to accelerating this transition deeply impressed me. I'm really proud to join EQT and I hope that my experience and my network can contribute to business growth and new investment opportunities. The Transition path to net-zero is a gradual process which requires time and significant investments and which at the same time, if well managed, creates value for those companies that know how to fully seize the opportunities" he declared Francesco Starace.
EQT: with Starace we accelerate the net-zero path
In his new role at EQT Infrastructure, the former CEO of Enel will bring his own in-depth knowledge of the energy sector, acquired through a career of more than forty years, which includes leadership positions, participation in advisory councils, activities in NGOs and in the public policy sector. Before becoming CEO of Enel, Starace led Enel Green Power, the group company dedicated to the generation of energy from renewable sources, becoming a major player in the global renewable energy sector from 2008 to 2014.
"Francesco is a leader with a proven and global experience in the energy transition, leading Enel to become a forerunner in the production of sustainable energy. EQT see a important potential in accelerating your own path to net-zero, driving the decarbonization of different sectors, from energy to utilities, from transport to logistics. Francesco's presence at our side on this journey, thanks to his ten-year experience, is invaluable both for EQT and for our portfolio companies ”commented Lennart Blecher, Partner and Head of Real Assets Advisory Team.
What is EQT
EQT is one private equity firm based in Sweden. Founded in 1994, it specializes in private equity and infrastructure investments. The firm manages various investment funds and focuses on creating long-term value for its investee companies. Has €119 billion of assets under management in two segments business, Private Capital and Real Assets. In 2020 EQT has acquired Facile.it through his private equity fund EQT VIII, reselling it to Silver Lake, in 2022, for a figure of around one billion euros.
