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Fondazione Carisbo
Fondazione Cassa di Risparmio in Bologna was carved out in 1991 from the reorganization of the Cassa di Risparmio in Bologna, the savings bank originally...
Fondazione Carisbo
Fondazione Cassa di Risparmio in Bologna was carved out in 1991 from the reorganization of the Cassa di Risparmio in Bologna, the savings bank originally founded by one hundred private citizens in 1837. The foundation inherited the bank's charitable mission and an endowment largely tied to the bank's shareholding, establishing itself as a grant-making institution focused exclusively on the Bologna metropolitan area. It operates as an associate-based non-profit under Italian banking-foundation law, reinvesting returns into social-welfare, cultural, and research projects across the region. The foundation allocates capital across a broad set of asset classes, including early-stage venture, buyout, expansion-stage, fund-of-funds, and special-situations strategies. It holds an interest in the Luxembourg-domiciled Eurizon Alternative Global Asset Allocation Fund, a diversified alternatives vehicle. On the cultural front, it directly stewards one of Italy's most expansive private heritage networks — the Genus Bononiae museum circuit — comprising Palazzo Fava, Palazzo Pepoli Vecchio, San Colombano, and Santa Maria della Vita, among others. These properties function as both income-generating commercial assets and public-facing exhibition spaces. The foundation also maintains real-estate holdings beyond the museum network, including the mixed-use Borgo Digani development in Argelato and the Studentato San Giuseppe Sposo student residence in Bologna. Under President Patrizia Pasini and Secretary General Alessio Fustini, the foundation runs its grant-making and investment operations from Casa Saraceni on Via Farini. It is a member of ACRI, the national association of Italian banking foundations, and Philea, the European network of philanthropic organizations. In May 2026, the foundation is opening the exhibition "School of Bristol. Contemporary" at Palazzo Fava, extending its contemporary-art programming alongside the long-running "Banksy Archive 01" show. In 2025, it approved its annual mission and financial statements, continuing an uninterrupted cycle of community-focused disbursements. What sets Fondazione Carisbo apart is its operating-company-like control of a permanent cultural-infrastructure portfolio — it does not merely grant to cultural operators, it is the operator of museums, archives, and performance venues in central Bologna. This hybrid model embeds the foundation so deeply in the city's physical fabric that its grant-making and investment returns are inseparable from the buildings that house them.
General information
Firm type
Endowment / Foundation
Year founded
1991
Location
Region
Europe
Country
Italy
City
Bologna
Corporate office
Bologna, Italy
Principals
Patrizia Pasini
President
Altss tracks 1 additional named team member for this firm — including direct investment leads, IR, and operating principals not listed on the public website.
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Frequently asked questions
What is the foundation's relationship to the original Cassa di Risparmio in Bologna bank?
The foundation was created in 1991 when the original savings bank — founded in 1837 by an association of 100 private citizens — was reorganized under Italy's Amato Law. It inherited the bank's philanthropic mandate and a significant portion of its assets, becoming a grant-making entity separate from the commercial bank. Today it has no operating link to the retail bank but remains a member of ACRI, the association of Italian banking foundations.
How does the foundation invest its endowment?
It pursues a multi-asset strategy spanning direct venture capital (early-stage seed to late-stage expansion), buyouts, fund-of-funds, and special situations. A known vehicle is the Luxembourg-based Eurizon Alternative Global Asset Allocation Fund, held alongside its direct stakes. The foundation also holds a substantial portfolio of commercial, residential, and mixed-use real estate concentrated in Bologna's historic center.
Does Fondazione Carisbo operate its cultural venues itself?
Yes — it directly owns and manages a string of historic palaces, churches, and museums under the Genus Bononiae circuit, including Palazzo Fava, Palazzo Pepoli Vecchio, and San Colombano. These venues host temporary exhibitions, permanent collections, and events. Revenue from these properties cycles back into the foundation's grant-making and maintenance budgets.
What is the governance structure of the foundation?
The President, currently Patrizia Pasini, leads the foundation alongside a Secretary General. The board includes representatives from academia — Alberto Credi of the University of Bologna serves on the board — reflecting deep ties to regional research institutions. The foundation is a member of Philea and ACRI, adhering to Italian banking-foundation governance codes.
Does the foundation accept external investment proposals or project applications?
Yes. It publishes open calls ("bandi") across multiple sessions each year, targeting areas such as welfare, cultural participation, and digital innovation. Applicants submit via the foundation's website; current examples include the Zenit call for the Fund for the Digital Republic and community-welfare initiatives. Pre-application guidance is available on the site.
Is Fondazione Carisbo involved in the Bologna Business School?
The foundation was one of the founding members of the Bologna Business School and maintains a strategic partnership with the University of Bologna. This relationship includes collaborative educational projects, student housing initiatives like the Studentato San Giuseppe Sposo, and shared board-level representation.
How are philanthropic disbursements funded — solely from investment returns or also from real estate income?
The foundation's grant-making is supported by the blended returns of its financial portfolio and income from its commercial real estate, including leased palazzos and mixed-use developments such as Borgo Digani. The operating model treats cultural venues as both mission-aligned assets and revenue generators that help sustain community programs.
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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