CAP Prévoyance

CAP Prévoyance

CAP Prévoyance consolidates the occupational pension obligations of the City of Geneva and the Geneva Industrial Services (SIG) under a single foundation. The City of Geneva, as founder, controls 7 of the 16 seats on the Board of Foundation, co-chaired by representatives of the municipal executive and the affiliated employers. The fund itself maintains no independent statutory profit motive; its mandate is to secure old-age, disability and survivor benefits for active employees and pensioners of its two constituent member pools. The fund allocates across a multi-asset framework spanning direct real estate, private equity fund commitments, infrastructure, and liquid fixed-income instruments. Its real-asset posture is concrete: the portfolio includes the Les Sciers housing project, the Pâquis residential renovation block, the Quartier de la Levratte complex in Nyon, and the Rue Camille-Martin holdings, alongside the commercial buildings at Rue de Lyon 93 and 111 that serve as the fund's own headquarters. On the private-markets side, confirmed commitments include the Capacity and Capacity II institutional funds, vehicles deployed in Swiss and European mid-market buyout strategies (per Altss research). The geographic footprint concentrates on the cantons of Geneva and Vaud, with select cross-border European exposure through fund-of-funds sleeves. Total asset deployment is not publicly reported, but public disclosures show a staffing structure built around Nicolas Nussbaum as Head of Asset Management and a dedicated in-house property management team. The fund participates in the Ethos Engagement Pool, Swiss Sustainable Finance, and Climate Action 100+, signalling a governance posture aligned with Swiss stewardship norms rather than an aggressive return-maximisation culture. In early 2026, the foundation enacted regulatory amendments effective April 1, 2026, adjusting benefit parameters across both internal schemes (per the firm, 2026). CAP Prévoyance is structurally distinct from a corporate pension fund; it functions as a public-law foundation with a statutory link to the municipal employer. This means its board is not a fiduciary committee hired from the market — it is a political-legislative construct where the founder-entity holds near-majority control. That governance architecture makes the fund's investment clock slower and its real-asset tilt larger than a typical Swiss Pensionskasse of equivalent member count.