Igneo Infrastructure Partners to acquire a 100% stake in City Green Light 

London, 27 October 2025: Igneo Infrastructure Partners (‘Igneo’), a global infrastructure investment manager, is pleased to announce the signing of a definitive agreement to acquire 100% of the share capital of City Green Light S.r.l. (‘City Green Light’ or ‘CGL’), Italy’s leading independent public lighting and smart city operator, from Marguerite Infrastructure Italy II, FIEE SGR, and IPIN 2E S.p.A (a FIEE co-investor vehicle).

This acquisition marks another milestone in Igneo’s strategy to invest in essential infrastructure platforms that deliver long-term sustainable value and support the energy transition across Europe.

Strategic fit with Igneo’s investment philosophy

City Green Light is the leading independent operator of public lighting in Italy, managing around one million lighting points under a portfolio of long-term contracts with over 300 municipalities, providing critical public lighting and smart city solutions.

These contracts offer stable, inflation-linked cash flows and long-term visibility, consistent with Igneo’s disciplined investment strategy. The company’s business model supports Igneo’s responsible investment approach, with its efficient lighting solutions helping local governments reduce power demand and advance the energy transition.

Igneo views CGL as a strategic platform well positioned to benefit from attractive underlying market fundamentals, building on its track record of more than doubling its market share since its establishment as a standalone business and carve-out from Gemmo in 2017.

“City Green Light represents the tenth portfolio company acquired by European Diversified Infrastructure Fund III, marking another milestone in the fund’s deployment,” said Hamish Lea-Wilson, Head of Europe at Igneo. “We look forward to the next phase of growth as we prepare for the first close of EDIF IV in Q2 next year.”

“CGL is a high-quality infrastructure asset with resilient, inflation-linked cashflows,” added Alex Nassuphis, Managing Director at Igneo. “We are excited to support its continued growth and contribute to the energy transition through efficient urban infrastructure. We thank Marguerite, FIEE and IPIN who have played a pivotal role in developing CGL into a national champion. This transaction represents a strong outcome for all parties and a promising future for CGL.”

“We are proud to have led City Green Light through an extraordinary journey of growth, during which the company established itself as one of the European leaders in the smart cities sector,” said FIEE’s co-CEOs Longatti, Marano and Mellone.

William Pierson, Managing Partner at Marguerite added: “The company’s work demonstrates how innovation and efficiency in infrastructure can directly benefit local communities and advance the energy transition.”

The transaction is expected to close in Q4 2025, subject to customary approvals.