# EPAP

EPAP is a Pension Fund based in Rome, Italy.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Rome, Italy
- **Region:** Europe
- **Address:** Via Vicenza 7, Rome, Italy
- **Assets under management:** 1560 (Altss estimate)
- **Website:** www.epap.it
- **LinkedIn:** https://www.linkedin.com/company/epap

## Regulatory record

- **Reports private funds:** No

## About

EPAP operates as a private-sector pension fund based in Rome. It provides pensions and assistance services to professionals across the fields of actuarial science, chemistry and geology. Carlo Cassaniti holds the presidency under a mandate running through 2030. The fund allocates across real estate, private debt and public securities. Confirmed holdings include Fondo Parchi Agroalimentari Italiani in Bologna, Eurazeo Private Debt VII, Tikehau Direct Lending VI and Alcentra European Direct Lending Fund III. Geographic exposure spans Italy, other European markets and the United States. Public positions include stakes in BlackRock Global Funds and Italian government bonds. EPAP reports $1.56 billion in assets. It maintains membership in ADEPP, the association of Italian private pension funds. Service providers include BNP Paribas Securities Services as custodian and Mangusta Risk Limited as investment advisor. January 2025: EPAP participated as speaker in a Parliamentary Hearing on financial investments and asset composition of pension funds. EPAP maintains a direct ownership stake in its Rome headquarters building. It also holds a strategic participation in the capital of the Bank of Italy. These positions reflect a mandate that combines pension administration with selective direct and fund investments.

## Sectors

- Energy & Utilities
- Renewable Energy
- Private Debt

## People

- Carlo Cassaniti — President
- Stefano Poeta — Vice President

## Questions

### Who runs investment decisions at EPAP?

Carlo Cassaniti serves as President with a mandate through 2030. Stefano Poeta acts as Vice President. The fund also works with Mangusta Risk Limited as investment advisor.

### What asset classes does EPAP allocate to?

EPAP holds real estate, private debt funds, commodities exposure and public securities including Italian government bonds and BlackRock-managed vehicles.

### Does EPAP participate in fund commitments or only direct deals?

EPAP commits to external funds including Eurazeo Private Debt VII, Tikehau Direct Lending VI, Xenon Fidec and Partners Group Private Markets Credit Strategies 2017.

### Which sectors does EPAP target?

The fund shows repeated exposure to energy and utilities, renewable energy projects and private debt strategies across Europe and the United States.

### How is EPAP related to ADEPP?

EPAP is a member of ADEPP, the Italian association of private pension funds, and participates alongside other member entities on industry matters.

### What is EPAP's known posture on co-investments alongside external GPs?

EPAP acts as limited partner in multiple direct lending and private debt funds managed by external sponsors such as Eurazeo, Tikehau and Alcentra.

## Related profiles

- [Azalea Investment Management](https://altss.com/profile/azalea-investment-management)
- [IP Group](https://altss.com/profile/ip-group)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/epap

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