Previndai, the Italian industry-wide pension fund for companies’ managers, is currently selecting Alternative Investment Funds (AIFs) with a focus on Italy to invest €35m in private equity.

The scheme its continuing to diversify its investments in alternative investment funds, following an allocation of almost €200m in the Italian real economy through the underwriting of six AIFs last year.

Specifically, Previndai has allocated €115m to funds investing in infrastructure, and €75m to private equity funds last year.

The pension fund has selected, among others, the AIF launched by infrastructure fund manager F2i dedicated to sustainable infrastructure, with a duration of 15 years, and a fund investing in the agri-food sector, it said.

F2i planned to raise €1.5bn for its sustainable infrastructure fund, after a first closing of €900m that attracted Italian institutional investors including first-pillar funds (Casse di Previdenza).

It also expected commitments from institutional investors abroad in line with the share of their investments in other funds, which had a weighting of about 40-50% of managed assets.

Francesco Di Ciommo, Previndai’s president, said the pension fund will continue to allocate its assets to the Italian economy in line with its investment policy and diversification of its investments, to offer the highest possible returns for members.

He added: “Pension investors, managing over €300bn in assets, can do a lot for our country. If only we were able to put a part of these savings to boost Italy’s engine, we would significantly contribute to the relaunch of our economy and national industry.” 

Previndai has been investing in the real economy in Italy for some years, steering funds to alternative assets and national projects, he added.

The pension fund has recorded returns of 1.21% for its Bilanciato sub-fund so far this year, up from -11.31% in 2022, and 1.30% so far this year for its Sviluppo sub-fund, compared with -11.75% last year.

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Luigi is IPE's Berlin-based DACH correspondent. His coverage includes regulation and the latest pensions and investments trends, and, being a native Italian, he also covers Italy’s pensions market. He has reported from Italy and Germany on international politics and business for European and US publications including USA Today, Bloomberg BNA and for the investigative magazine L’Espresso. He was previously Germany correspondent for Mergermarket covering M&A.View full Profile

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