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Ente di Previdenza dei Periti Industriali e dei Periti Industriali Laureati (EPPI)
EPPI administers the first-pillar social security scheme for industrial experts and graduate industrial experts (periti industriali) registered with their...
Ente di Previdenza dei Periti Industriali e dei Periti Industriali Laureati (EPPI)
EPPI administers the first-pillar social security scheme for industrial experts and graduate industrial experts (periti industriali) registered with their professional order. Its legal mandate derives from Italian legislative decree 509/1994, which privatized the management of several professional pension funds while retaining compulsory membership and defined-contribution architecture. Contributions flow from members who are primarily independent professionals operating in construction, manufacturing, and technical consultancy across Italy. The fund's investment activity is therefore shaped by the steady inflow of mandatory contributions and a liability profile extending decades into the future. Asset allocation divides between a liquid financial portfolio and a substantial direct real-asset program. EPPI owns the Via G. B. Morgagni 30 office complex in Rome and participates in pooled real estate vehicles including Fondo Fedora, FIEPP (the joint real estate fund for professional pension funds), and Parkinge, an industrial portfolio. In 2014 the fund co-founded Arpinge SpA alongside Inarcassa (engineers and architects) and Cassa Geometri (surveyors) to invest directly in Italian infrastructure projects — a collaborative structure that remains rare among European pension funds. Arpinge has deployed capital into renewable energy assets and gas distribution networks. Separately, EPPI allocates a portion of its portfolio to venture capital, consistent with a broader push by Italian pension funds to support domestic innovation. The fund operates from Rome under the supervision of Italian regulatory authorities including COVIP, which monitors all Italian pension funds. President Paolo Bernasconi's current mandate runs through 2026, following Valerio Bignami's earlier leadership of the board. Federico Merola serves as CEO of Arpinge SpA, the jointly-owned infrastructure platform, creating a governance layer between the pension fund's board and its direct investment operations. EPPI participates in ADEPP, the association representing Italy's private pension funds, which coordinates policy positions with government ministries on matters affecting professional social security schemes. EPPI's unusual architecture — a compulsory professional pension fund that co-invests directly in hard assets through a jointly-owned corporate vehicle — distinguishes it from peers that delegate entirely to external asset managers. The Arpinge model allows three separate professional pension funds to pool origination capabilities and share operating costs on infrastructure assets they intend to hold for decades, which aligns with the duration of their respective liability streams and reduces fee leakage compared to blind-pool fund commitments.
General information
Firm type
Pension Fund
Location
Region
Europe
Country
Italy
City
Rome
Corporate office
Rome, Italy
Principals
Paolo Bernasconi
President
Valerio Bignami
Former President
Federico Merola
CEO of Arpinge SpA
Sector focus
Frequently asked questions
What is Arpinge SpA and how does EPPI relate to it?
Arpinge SpA is an infrastructure investment company jointly owned by three Italian professional pension funds: EPPI, Inarcassa, and Cassa Geometri. Founded in 2014, it allows the three funds to co-invest directly in Italian infrastructure assets — including renewable energy and gas distribution — rather than paying fees to third-party fund managers. Federico Merola serves as CEO of Arpinge, operating the platform on behalf of the three shareholder-pension funds.
Is EPPI a public or private pension fund?
EPPI occupies a specific Italian legal category — it is a private-law entity managing a mandatory public social security function under legislative decree 509/1994. Membership is compulsory for all industrial experts and graduate industrial experts registered with their professional order, but the fund's governance and asset management operate independently of direct state administration. This makes it distinct from both purely public INPS schemes and purely voluntary supplementary pension funds.
Who makes investment decisions at EPPI?
Investment policy is set by EPPI's board of directors, currently led by President Paolo Bernasconi. For infrastructure investments executed through Arpinge SpA, day-to-day investment decisions are delegated to Arpinge's management team under CEO Federico Merola, with the three shareholder pension funds exercising oversight through Arpinge's board.
What asset classes does EPPI invest in?
EPPI's portfolio spans listed financial instruments, direct Italian real estate holdings including the Via G. B. Morgagni 30 office complex and pooled funds such as Fondo Fedora and FIEPP, infrastructure through Arpinge SpA, and a venture capital allocation targeting domestic innovation. The fund has historically prioritized Italian tangible assets, reflecting both its liability profile in Euros and the domestic economic orientation of its contributing members.
How are EPPI's real estate investments structured?
EPPI holds both directly-owned commercial property — such as its Rome office complex on Via G. B. Morgagni — and units in several pooled Italian real estate funds. These include Fondo Fedora, which holds mixed-use assets, FIEPP, a fund established collectively by multiple professional pension funds, and Parkinge, an industrial property portfolio. The pooled structures allow EPPI to diversify across property types and regions within Italy.
Does EPPI invest outside Italy?
EPPI's direct real asset programs — real estate funds, the Via Morgagni complex, and Arpinge infrastructure investments — have historically focused on Italy. The fund's venture capital allocation may hold international exposure through fund-of-fund structures, but its core tangible asset strategy is overwhelmingly domestic, reflecting the Euro-denominated liabilities and the regulatory preference for Italian investment among 509/1994 pension funds during their earlier decades.
How is EPPI regulated?
EPPI is supervised by COVIP, the Italian pension fund supervisory commission, which monitors its financial soundness, governance, transparency, and compliance with investment regulations applicable to professional pension funds. The fund operates under the statutory framework established by legislative decree 509/1994, which classifies it as a privatized mandatory social security entity rather than a commercial asset manager.
Profile maintained by Altss 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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