Fondazione Caript

Fondazione Caript

Born from the 1992 restructuring of Cassa di Risparmio di Pistoia e Pescia, Fondazione Caript inherited the public-interest mandate of the bank it once owned. President Luca Gori governs an endowment whose corpus derives from the sale of the banking arm, today minority-shareholder of Intesa Sanpaolo. The foundation remains legally private, non-profit, and geographically bound to the province of Pistoia, where it directs grant-making in culture, education, public health, and volunteerism. Asset management balances capital preservation with the income stream required to fund multi-year initiatives. The portfolio spans liquid strategies managed by Gianluca Magazzini, direct real estate including Palazzo de' Rossi and Antico Palazzo dei Vescovi, and an alternatives program that touches buyout, venture, distressed debt, and natural resources. The foundation also pursues co-investments and fund-of-fund commitments, with a mandate that reaches early-stage seed through to late-stage growth and special situations. Operating from a single office in Pistoia, the foundation deploys capital alongside Italian and European peer institutions. It is a member of ACRI, the national association of banking foundations, and participates in the Fondo per la Repubblica Digitale, a pooled vehicle backing digital-skills programs. The foundation also maintains a strategic collaboration with Intesa Sanpaolo on cultural projects, including the Progetto Cultura initiative. The foundation’s hybrid character — part asset manager, part civic operator, part museum custodian — sets it apart from a conventional endowment. Its governance separates the investment committee from the grant-making board, but both draw from the same balance sheet. Palazzo de' Rossi houses contemporary collections and administrative offices under one roof, collapsing the distance between the foundation’s portfolio and its public programming.