What we do

SFPI-FPIM is the federal public holding company, which fulfills a dual function. It not only acts as an investment company, but also as a government holding company. The investments as a public holding company are done in consultation with the government.

In addition to the public holding function, SFPI-FPIM can also acquire equity in companies at the explicit request of the federal government. These are the so-called delegated assignments.

 

SFPI-FPIM as an investment company

SFPI-FPIM also wishes to profile itself as an investment company that attaches great importance to socially responsible projects. SFPI-FPIM is looking for the perfect combination of profitability and societal relevance.

SFPI-FPIM wishes to focus mainly on the following economic and cross-cutting sectors:

  • Aviation and airports
  • Real estate
  • Networks
  • International investments
  • Innovations
  • Sustainability

Since 2012, SFPI-FPIM has extended its strategic priorities to the infrastructure and network management sectors, which play a crucial economic role for the benefit of the Belgian households and companies.

The below equity participations illustrate the investment opportunities that SFPI-FPIM is looking for:

  • Fluxys
  • La société wallonne des eaux
  • Comet (garbage treatment)
  • Fidentia Green Buildings
  • Vesalius Biocapital I (investment fund – medical innovations)
  • Nanocyl (nanotubes)

Following the partial renewal of its Board of Directors in November 2013 and after having work de facto in continuity, SFPI - FPIM has performed in 2014 an adjustment of its investment strategy.

 

SFPI-FPIM as a holding company

SFPI-FPIM participates in companies that have a special connection with the State or that are of strategic importance or that relate to privatized government companies.

The below equity participations illustrate this approach:

  • Brussels Airport Company
  • Bpost
  • BNP Paribas
  • Nationale Loterij (National Lottery)
  • Congrespaleis (Congress Palace)
  • SN Airholding / Brussels Airlines
  • China Belgium Direct Equity Investment Fund
  • Flagey Broadcasting Building

 

SFPI-FPIM as a government representative (delegated assignments)

In certain cases, SFPI-FPIM’s investments surpass their own means or the investments are barely profitable, but do demonstrate a clear social relevance, which convinces the government to invest.

In these cases, the government orders SFPI-FPIM to make the investment and assumes the resulting expenses itself. In these partnerships, SFPI-FPIM carries out the policy at the explicit initiative of the government. Ever since the 2008 bank crisis, the investments in a number of large financial institutions have been a classical example of this.

As such, SFPI-FPIM and the Belgian State have not only acquired an important equity share in the banking sector (BNPP Fortis (now sold), BNP Paribas, Dexia, Belfius, Ethias Finance – nowadays called Vitrufin), but also in companies such as ASTRID, the network manager for the communication from and between the country’s security services.