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Private Equity and Private Debt Fund of Funds (FoF), part of the Italian Real Economy Project (Progetto Economia Reale) – Italy’s Assofondipensione in partnership with Cassa Depositi e Prestiti (CDP), a partially state-owned investment bank. This is an asset that was launched. Director of Fondo Italiano DiInvestimento – raised a total of 800 million euros.
Giovanni Maggi, President of Assofondipensione, said: Approximately 16 industry-wide pension funds (Fondi Negoziali) participate. ”
Mr McGee told IPE last year that the two FoFs were on track to close their funding round at around €500m, with nearly 20 pension funds investing towards reaching the target.
CDP co-invested with a pension fund and invested 300 million euros in private equity Italia FoF and 250 million euros in private debt Italia FoF to start the business.
Asofondi Piscione has also set up a CDP and further FoF for infrastructure investments, pursuing a low-risk approach to allocating capital to strategically important assets.
Fondo Pensione Cometa has also proposed establishing a further FoF for alternative investments in Italy, with the CDP tasked with protecting the scheme from potential losses.
Italy’s pension funds are calling for an overhaul of the system of double taxation on benefits and investment profits, which prevents them from increasing investment to support the country’s economy.
“Special and more competitive taxation of investments” [for pension funds] This will be a positive signal for our members in infrastructure projects who will responsibly set up networks that benefit the country,” McGee said last week when he was re-elected as the association’s president until 2027.
At the end of 2023, Assofondi Piccione’s 32 pension fund members will have assets under management of over €67 billion and approximately 4 million members.
The association president hopes to “resume talks between the two sides.” [public] “Institutions and Pension Funds” addresses important issues and discusses tax exemptions for income earned through alternative investments.
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