Italian pension funds launch PE programme
Five Italian pension funds have joined forces in a bid to launch a request for proposal (RFP) for a private equity manager.
The joint initiative, under the name Progetto Iride, comprises Foncer, Fondenergia Pension Fund, Fondo Gomma Plastica, Pegaso, and Fondo Pensione Previmoda.
Progetto Iride is seeking alternative managers that invest in Europe and have a significant share of Italy-based companies.
The targeted strategies include buyouts and growth capital.
The pension funds are interested in diversifying their portfolios and generating higher returns for their members.
The total assets of the pension funds amount to €6.1bn, as of December 2018.
For more information on Progetto Iride, click here.
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