Italian Real Economy Project, initiated by Assofond Pensione in collaboration with Cassa Depositi e Prestiti (CDP) and Fondo Italiano d'Investimento, has successfully raised a total of EUR 800 million for its private equity and private debt fund of funds (FoFs). Giovanni Maggi, president of Assofondipensione, disclosed that the private equity FoF secured EUR 460 million, while the private debt FoF obtained EUR 340 million, with the participation of approximately 16 industry-wide pension funds (Fondi Negoziali). CDP, along with pension funds, has invested EUR 300 million in the Private Equity Italia FoF and EUR 250 million in the Private Debt Italia FoF to initiate operations.
Furthermore, Assofond Pensione and CDP have established another FoF to invest in infrastructure projects, aiming for a low-risk investment strategy to allocate capital strategically. Additionally, Fondo Pensione Cometa proposed establishing another FoF for alternative investments in Italy, with CDP ensuring protection against potential losses for the schemes. Italian pension funds have advocated for revising the double taxation regime on benefits and investment returns, which impedes their ability to bolster investments and support the country's economy. Maggi stressed the importance of implementing a more competitive taxation framework for pension fund investments, signaling a positive move towards benefiting the country. Assofondipensione, comprising 32 pension fund members, manages assets exceeding EUR 67 billion, serving nearly 4 million members. Maggi anticipates initiating discussions with public institutions and pension funds to address critical issues and explore the possibility of tax exemptions on returns generated from alternative investments.
