Growth, however, is expected to slow this year, as the effects of interest rate rises by the European Central Bank aimed at curbing inflation across the eurozone, and the phasing out of COVID-era expansionary policies, take hold. Key to realising Italy’s long-term growth and productivity goals is investment in modernising and expanding the country’s infrastructure to generate both direct and indirect economic activity.
Almost €200 billion4 of the EU’s post-COVID recovery plan will also support this, including a programme of reform and investment in areas including decarbonisation, digitalisation and transport infrastructure. With one of the largest infrastructure investment gaps in Europe,5 however, additional investment capital will be required from the private sector, as well as its global expertise and access to knowledge and innovation.
Macquarie has been investing in Italy for 20 years – advising clients, supporting commodities trading, deploying capital and investing in transport, digital and energy infrastructure – and is well-positioned to help strengthen the country’s economy.
“There is plenty of capital ready to be deployed here in Italy, which has a strong appeal amongst both domestic and international institutional investors,” says Roberto Purcaro, Senior Managing Director at Macquarie Capital in Milan.
“Investors recognise the opportunities for investment in digital infrastructure to bring Italy’s connectivity up to par with its economic competitors, and they stand ready to help fund improvements in its transport infrastructure to underpin the country’s growing role as a European gateway. They also recognise the enormous potential in developing the renewable energy sources that will help Italy reduce its dependence on imported gas and reach its target of climate neutrality by 2050,” he adds.
Building a permanent presence in Italy
This year, Macquarie established a permanent presence in Italy marking the 20th anniversary. The office is primely located on Via Negri, above the Galleria Meravigli and near Piazza Affari and the Duomo, in the heart of Milan – the country’s industrial and financial capital. This commitment reflects Macquarie’s growing business in Italy, and desire to provide Italian clients with greater access to its investment, advisory and commodities trading expertise.
Macquarie’s EMEA CEO, Paul Plewman, highlights, “over the past two decades, our team in Italy has developed deep relationships with local clients and stakeholders. With a growing team and activity levels increasing, Italy is now a key growth market for Macquarie – requiring a permanent home from which we can continue to grow over the years ahead.”
The office brings together Macquarie’s growing team of Italian market specialists covering investment, asset management, advisory and capital raising for our Italian clients and projects – and underlines its deepening commitment to Italy.