Pension Fund

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Cassa Forense

Cassa Forense was established in 1933 as the national pension and assistance body for registered Italian lawyers. Maria Annunziata currently leads the...

Cassa Forense

Cassa Forense was established in 1933 as the national pension and assistance body for registered Italian lawyers. Maria Annunziata currently leads the organization. The fund collects mandatory contributions and delivers retirement, health and family support benefits to members. The investment program allocates to private equity, real estate and infrastructure. Holdings include a 4.01 percent stake in F2i, commitments to EOS Renewable Infrastructure II and COIMA ESG City Impact Fund, and the Fondo Cicerone real estate vehicle that owns approximately 40 properties in Italy and Europe. The fund also maintains the Cassa Forense SICAV and SICAF vehicles for public and private market exposure. Geographic reach centers on Italy with additional activity in other European markets. Assets under management stand at approximately $19.5 billion. The organization employs external managers including Fabrica Immobiliare SGR for real estate and Fondaco Lux SA for investments. In September 2024 it sponsored the Conferenza Nazionale Cassa Forense in Rimini focused on pension sustainability. Cassa Forense operates as a private-law foundation under Italian regulation. It co-founded ASSODIRE with Inarcassa and ENPAM and maintains signatory status with the UN PRI since 2019. These structures separate benefit administration from investment execution while embedding ESG criteria in decision making.

General information

Firm type

Pension Fund

Year founded

1933

Location

Region

Europe

Country

Italy

City

Rome

Corporate office

Via Giuseppe Gioachino Belli, 5, 00193 Rome, Italy

Principals

Maria Annunziata

President

Valter Militi

Past President

Sector focus

InfrastructureReal EstatePrivate Credit

Frequently asked questions

Who runs investment decisions at Cassa Forense?

Maria Annunziata serves as president. Valter Militi sits on the SICAV board after his term as president from 2021 to 2025. External managers execute day-to-day portfolio decisions under board oversight.

Does Cassa Forense participate in fund commitments or only direct deals?

The fund commits to external vehicles including F2i, EOS Renewable Infrastructure II and Alcentra Strategic Credit Fund III. It also holds direct real estate assets through Fondo Cicerone.

What asset classes does Cassa Forense target?

Allocations cover private equity at a 4.7 percent current weight with a 5.5 percent target, real estate, infrastructure, private credit and public equities via the SICAV structure.

Where does the underlying wealth come from?

Mandatory pension contributions from registered Italian lawyers fund the system. The organization also receives investment returns and manages inherited real estate assets.

How is Cassa Forense related to Cassa Depositi e Prestiti?

Cassa Forense co-invests with CDP in F2i and other infrastructure initiatives. The relationship supports Italian infrastructure exposure.

What is Cassa Forense's known posture on ESG?

The fund is a UN PRI signatory since 2019 and a member of ASSODIRE and the Forum per la Finanza Sostenibile. ESG factors are integrated into investment decisions.

Profile maintained by using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.

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