Italian pension fund consortium set to select PE manager

The consortium comprises Foncer, Fondenergia Pension Fund, Fondo Gomma Plastica, Pegaso and Fondo Pensione Previmoda.

The joint initiative, under the name Progetto Iride, is looking to invest €216m in private equity, with a focus on Europe and specifically Italy-based companies. The targeted strategies include buyouts and growth capital.

Around 20 firms responded to the request for proposals launched in March 2019; only six firms were short-listed for the second phase.

Unquote understands that the mandate is expected to be awarded by November 2019.

Investment consultant Prometeia Advisor Sim has assisted with the manager search.

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