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5 October 2023

CDP Group and Khazanah Nasional Berhad signs MoU, strengthening economic relations and promote two-way investments

The non-binding four-year agreement was signed by CDP Equity, Fondo Italiano di Investimento,  CDP Venture Capital, and Simest and the Malaysian sovereign wealth fund during the 7th edition of the High Level Dialogue on ASEAN Italy Economic Relations in Bangkok 

The Memorandum is the first of its kind between Italy and Malaysia

Kuala Lumpur, 5 October 2023 – Cassa Depositi e Prestiti Group (“CDP Group”) and Malaysian sovereign wealth fund Khazanah Nasional Berhad (“Khazanah”) signed a Memorandum of Understanding (“MoU”) with the aim of identifying areas of potential interest in which the parties involved can define, assess and identify investment and cooperation opportunities primarily in the two markets. The non-binding four-year agreement was signed for the CDP Group by the subsidiaries CDP Equity, Fondo Italiano di Investimento SGR, CDP Venture Capital SGR and Simest.

The MoU is set to strengthen economic, trade and industrial relations between Italy and Malaysia, promoting investments between the two countries both by supporting Italian companies interested in expanding their business in ASEAN region and by supporting the entry and presence of Malaysian sovereign wealth fund, Khazanah and its Subsidiaries in the Italian market.

The signing took place at the 7th edition of the High Level Dialogue on ASEAN Italy Economic Relations, an event held on 3-4 October in Bangkok, Thailand, promoted by The European House – Ambrosetti and supported by CDP and Simest as Main Partners.

The agreement, first of its kind between Italy and Malaysia, also stipulates that Khazanah is open to evaluate potential investment opportunities in companies in CDP Equity’s portfolio as well as to cooperate with Fondo Italiano d’Investimento SGR and CDP Venture Capital SGR to analyse potential collaboration opportunities with Italian companies and/or groups with significant businesses in Europe or in Malaysia.

Whereas CDP, through SIMEST, and Khazanah will mainly focus on analysing potential investment opportunities in Malaysian subsidiaries of Italian companies and/or groups. This signifies Italian business  network’s readiness to strengthen economic relations with ASEAN nations including Malaysia, by exploring investment opportunities in the country.

The non-binding agreement also provides the establishment of a joint working group comprising representatives from both institutions that will analyse, foster and coordinate the development of cooperation opportunities under the signed document.

Francesco Mele, CDP Investment Director and Chief Executive Officer of CDP Equity said: “The four-year non-binding agreement signed by the CDP Group with Khazanah Nasional Berhad represents an important milestone in the process of strengthening relations with international institutional investors, fostering both the potential growth of Italian companies in Southeast Asia and the possible entry of a new player with proven experience and capital strength to boost the development of the Italian ecosystem”.

Dato’ Amirul Feisal Wan Zahir, Managing Director of Khazanah said: “Khazanah is honoured to be a part of this strategic alliance with the CDP Group, which will significantly boost two-way relations between Italy and Malaysia. Through this partnership, we are able to jointly facilitate and establish further opportunities for Italian enterprises currently investing or willing to invest in Malaysia, and vice versa, enhancing the economic strength and resilience of both nations.”

“Khazanah’s international investments span a wide range of asset classes and markets. As the Malaysian sovereign wealth fund, we strategically align these investments with global megatrends and emerging technologies, serving the twin goals of growing our portfolio value and facilitating flows of knowledge, networks and investment opportunities to Malaysia. In this respect, we are very much looking forward to benefitting from our partnership with CDP who is one of the leading European Sovereign Funds.” Added Amirul Feisal.

 

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