The State Oil Fund Invests €34.5 million in Italy’s “Italo” Railway Operator
The investment was made through a fund managed by Global Infrastructure Partners (GIP), which is part of BlackRock.
Founded in 2012, Italo is Italy’s first private high-speed passenger rail operator. The company currently operates routes connecting 54 cities across the country, including the Milan–Rome corridor, with a fleet consisting of 25 AGV 575and 26 Italo EVO trains. The trains are capable of reaching speeds of up to 360 km/h.
In 2024, MSC acquired approximately 50% of Italo’s shares from GIP. The remaining 50% is owned by GIP, co-investors, and GIP-managed funds, including SOFAZ.
Against the backdrop of growing demand for sustainable mobility solutions, Italo demonstrates significant growth potential. This investment forms part of SOFAZ’s portfolio diversification strategy and is aimed at long-term investment in sustainable infrastructure assets.