Enasarco approves €50m for investments in PE
Fondazione Enasarco, the pension fund for sales representatives in Italy, has approved €50m for new investments in the private equity portfolio.
The pension scheme has decided to back Italian small and medium-sized enterprises (SMEs), as part of its investments in the real economy.
Fondazione Enasarco also plans to invest an additional €50m in global private equity buyouts and venture capital in 2019, in a bid to diversify its exposure to private markets.
It has a target allocation of 12% in private markets, which includes investments in private equity, private debt and infrastructure.
The pension scheme has currently allocated 5.3% of its portfolio to private equity. The asset class has been one of the best performing in 2017, returning 14.5%.
Fondazione Enasarco has previously committed to Ardian Secondary Fund VII (ASF VII), Ambienta II and Ambienta I.
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