CAP Prévoyance (CPI SIG)

CAP Prévoyance (CPI SIG)

CAP Prévoyance (CPI SIG) operates as the closed pension fund for the Services Industriels de Genève (SIG), Geneva's public utility provider. The City of Geneva appoints 7 of the 16 seats on the Foundation Council, giving the municipality structural influence over asset-allocation decisions and governance priorities. Sandrine Salerno, the city's former mayor, previously chaired that council; Mauro Camozzato serves as director, shaping the fund's long-term investment posture from a Geneva base. The fund runs a multi-asset strategy built around Swiss direct real estate, global equities, fixed income, and alternative exposures. Direct property holdings form the portfolio's backbone — the fund owns mixed-used assets across Geneva, including the commercial building at Rue de Lyon 93. Unlike many Swiss pension plans that outsource most private-market allocations, CPI SIG has maintained a dedicated real-asset book internally. Listed-equity mandates carry a visible ESG overlay: the fund participates in Ethos Engagement Pool's Swiss and international programs, joining institutional peers in coordinated stewardship campaigns targeting corporate governance and climate-risk disclosure. Gold exposure and a Geneva-based capacity fund round out the alternatives sleeve. The pension fund participates in Swiss industry associations ASIP and Sustainable Finance Geneva, signaling an institutional commitment to Swiss pension best practices and to Geneva's sustainable-finance ecosystem. These affiliations track with the fund's approach to stewardship — visible, collaborative, and regional in context. The capacity fund vehicle suggests the fund evaluates domestic infrastructure or private-equity commitments alongside other Swiss institutional investors. What distinguishes CPI SIG from other Swiss second-pillar funds is its tight employer-utility nexus. SIG's workforce — engineers, technicians, and municipal energy operators — anchors the plan's liability profile, which in turn influences its investment horizon and real-asset preferences. The City of Geneva's governance role further layers municipal credit considerations onto the fund's posture, making it structurally closer to a public-sector plan than a typical corporate Pensionskasse. Succession risks center on Foundation Council composition and the fund's ability to preserve direct real-estate origination capabilities as Geneva's property market tightens.