Summary:
Known locally as Le Fonds stratégique d'investissement (FSI), it was established in late November 2008. The Strategic Investment Fund (SIF) was created to enhance equity and to help stabilize French firms. SIF will be managed by Caisse des Dépôts. The SIF will be a French public limited company (société anonyme), a subsidiary of Caisse des Dépôts, and controlled by it, whose accounts will be consolidated with those of Caisse des Dépôts. The FSI is 49% owned by Government of France and 51% Caisse des Depots et Consignations.

In the beginning, SIF was endowed with 20 billion Euros contributed at par by Caisse des Dépôts from its equity (general section) and by the French State: 14 billion Euros in securities and 6 billion Euros in cash.

News and Updates


2/9/2010
France's FSI Raises Its Carbone Lorraine Stake Above 10%
Wall Street Journal reports "France's sovereign wealth fund, the Fonds Strategique d'Investissement, or FSI, Tuesday said that its stake in French graphite solutions and electrical components company Carbone Lorraine SA (CRL.FR) has risen above 10%. In October last year, the FSI's stake in Carbone Lorraine had risen above 5% following the company's EUR63.4 million capital increase. Last week Carbone Lorraine said the FSI will get a seat on its supervisory board. The French government launched the FSI at the end of 2008 with the aim of investing in companies with the potential to drive the competitiveness and growth of the French economy. The FSI is 51% owned by state-controlled financial institute Caisse de Depots et Consignations and 49% owned by the French state."
read more: Wall Street Journal

11/5/2009
Renault, Nissan to Form Car Battery Venture With French State
Bloomberg reports "Renault SA and alliance partner Nissan Motor Co. will develop and make electric-car batteries in a French government-backed joint venture with the country’s CEA energy research agency.The FSI sovereign wealth fund will also buy a stake in the new company, Renault Chief Executive Officer Carlos Ghosn and French Industry Minister Christian Estrosi said today at a news conference near the site of the planned 600 million-euro ($892 million) battery plant outside Paris.

'This will be the center of our lithium battery production for all of our assembly plants and for other carmakers,' Ghosn said. 'It’s a major investment.'

The cost, weight and limited range of electric-car batteries are among the obstacles for automakers banking on mass demand for the vehicles. Ghosn’s Renault-Nissan alliance has already committed 4 billion euros of investment in planned electric cars. They include the Zoe subcompact to be built at the same site in Flins, northwest of the French capital, and introduced in 2012 with an annual sales target of 100,000 units."
read more: Bloomberg

10/23/2009
France's FSI Strategic Investment Fund invests in YouTube rival Dailymotion
Reuters reports "According to Reuters, "France's FSI strategic investment fund will take part in a 17 million euros ($25 million) capital raising for web video share site Dailymotion, the Gallic rival of Google Inc's YouTube. The money raised will be used to accelerate Dailymotion's expansion, notably abroad, the FSI said in a statement on Thursday.

'We are one of the rare French players that can participate in the future (sector) consolidation,' Dailymotion Chief Executive Cedric Tournay told Reuters.

The FSI will invest 7.5 million euros in the transaction, alongside Dailymotion's existing shareholders Advent Venture Partners, AGF Private Equity, Atlas Venture et Partech International. Dailymotion, which says it has 60 million unique visitors worldwide, also aimed to post a profit next year, having reached breakeven, Tournay said. The company had no plans to seek a stock market listing in the short term. "We will consider it within two to three years," said Tournay." "
read more: Reuters

9/9/2009
French investment fund ups stake in Technip to 5%
CCTV reports "France's FSI strategic investment fund has raised its stake in Technip (TECF.PA), a builder of refineries, pipelines and gas plants, to 5 percent from 2.6 percent by buying shares on the stock market.

'Through this investment FSI supports Technip in fully playing its role as a key actor in French competitiveness,' FSI said in a statement on Wednesday.

FSI, whose shareholdings include parts of digital computer company Gemalto (GTO.PA) and car parts maker Valeo (VLOF.PA), did not disclose financial details. FSI was created last year to help French companies deal with the financial crisis and has said it its aiming to invest 2 billion euros ($2.9 billion) to 3 billion a year. It is 49 percent owned by France and 51 percent by state bank Caisse des Depots et Consignations. "
read more: Reuters

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Fonds Strategique d'investissement

1. All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their holdings, from other publicly available sources.


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