Cassa Depositi e Prestiti, Assofondipensione and Fondo Italiano d'Investimento SGR presented today the Real Economy Project to over forty Italian pension funds, both contractual and pre-existing.
The Project, the guidelines of which were announced by the CEO of CDP Fabrizio Palermo during the annual meeting of Assofondipensione last 2 December conducted by the chairman Giovanni Maggi, aims at the potential involvement of all Italian private pension funds.
The purpose of the Real Economy Project is to provide participating pension funds with the possibility of co-investing with CDP in diversified instruments and with potential returns in line with the objectives of the savings they manage and at the same time to support the growth and competitiveness of Italian companies by facilitating the flow of investments into the national economy through a platform, made up of funds of funds, managed by the Fondo Italiano di Investimento SGR (FII SGR, controlled by CDP Equity), which will invest in private equity, private debtsas well as potentially others asset classes.
During today's technical session, the main technical characteristics of the Project were presented to the participating pension funds. In particular, Fondo Italiano d'Investimento SGR illustrated the peculiarities of the funds of funds underlying the platform, together with the possibility, subject to the approval of the Board of Directors of CDP, CDP Equity and Fondo Italiano d'Investimento, to enjoy a liquidity platform and to invest in fund units with asymmetric returns.
The goal of funding from pension funds is at least 500 million euro, in addition to the resources that CDP has already dedicated - in line with its institutional mission (550 million to date in private equity funds e private debts) and those that he may decide to dedicate to any additional ones asset class within the Project.
Pension funds currently manage over €100 billion on behalf of their members and can play an important role in supporting the country's economy, employment and growth, while at the same time seizing the opportunity for higher returns for their members , for an increasingly efficient and inclusive supplementary welfare.
