Italian pension fund consortium set to select PE manager
A consortium of five Italian pension funds has ranked Neuberger Berman first in its selection of a private equity 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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