Italian sovereign wealth fund buys 23% of Rocco Forte Hotels | ft.com

Sir Rocco Forte is giving up nearly a quarter of his luxury hotels business to Italian investors in return for a £60m investment to double the size of its portfolio in five years. Rocco Forte Hotels will seek to add at least four properties in Italy as a result of the cash injection from sovereign wealth fund Fondo Strategico Italiano. The fund will get 23 per cent of the company, and projects in Venice, Milan, Naples and Sicily have been...