# Fondo Pensione Previndai Fondo Pensione Previndai is a Pension Fund based in Rome, Italy. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Rome, Italy - **Region:** Europe - **Address:** Rome, Italy - **Founded:** 1989 - **Assets under management:** €1B–€5B (Altss estimate) - **Website:** previndai.it ## Regulatory record - **Reports private funds:** No ## About Previndai is a contractual pension fund established under Italy's second-pillar system for industrial managers and executives. Created by the national collective agreement between Confindustria, the General Confederation of Italian Industry, and Federmanager, the Italian Federation of Industrial Managers, the fund pools mandatory severance contributions and voluntary member savings. It operates as a defined-contribution scheme, meaning retirement benefits depend on contribution levels and net asset returns rather than guaranteed final salaries. On the allocation side, Previndai's portfolio spans multiple asset classes with a notable tilt toward illiquid alternatives. The fund commits to private equity buyout strategies, maintains a commercial real estate portfolio across Italy and select European markets, and holds global infrastructure equity positions. Its private equity program is executed through fund commitments rather than direct company investments, with the board retaining discretion over manager selection and pacing. Previndai participates in Italian institutional investor circles through memberships in Assofondipensione, the national association of pension funds, and Itinerari Previdenziali, a research and networking center for Italian allocators. The fund is governed by a Board of Directors that includes employer and union representatives alongside independent figures. Maurizio De Magistris sits on the board, while Silvia Rovere served as a non-executive director before assuming the presidency of Poste Italiane. The Board of Statutory Auditors, formerly chaired by Cinzia Farisè, provides oversight on compliance and financial controls. The fund has not publicly disclosed its total assets; Altss estimates Previndai's AUM in the €1B–€5B range based on Italian second-pillar fund peer benchmarks and the scale of the manager class it serves. Previndai's structural differentiator is its closed architecture: membership is limited to managers covered by the Confindustria-Federmanager collective agreement. This creates a captive contribution base insulated from retail fund flows, allowing the investment committee to pursue illiquidity premia through private market allocations that would be impractical for an open-ended retail vehicle. The fund's governance balance — where social partners share board seats — mirrors the broader Italian contractual pension model but gives Previndai a concentrated constituency of high-earning professionals whose contribution levels support meaningful commitments to institutional private equity and infrastructure funds. ## Sectors - Private Equity - Real Estate - Infrastructure ## People - Silvia Rovere — Former Non-Executive Director; currently President of Poste Italiane - Maurizio De Magistris — Member of the Board of Directors - Cinzia Farisè — Member and former President of the Board of Statutory Auditors - Carlo Capelli — Investor Relator ## Questions ### Who runs investment decisions at Fondo Pensione Previndai? Investment strategy and manager selection are overseen by the Board of Directors, which includes representatives of both employer and union founding parties — Confindustria and Federmanager. Day-to-day investment operations and manager relations fall to the internal staff, with Carlo Capelli serving in the investor relator role. The Board of Statutory Auditors provides compliance and financial oversight. ### How is Previndai's membership base structured? Previndai is a closed pension fund open exclusively to industrial managers and executives whose employment falls under the national collective bargaining agreement between Confindustria and Federmanager. Membership is not available to the general public or to workers outside the covered managerial class. This creates a stable, high-contribution participant base that supports the fund's illiquid allocation program. ### What is Previndai's relationship with Confindustria and Federmanager? Confindustria and Federmanager are the founding social partners that signed the collective agreement creating Previndai. They remain represented on the fund's Board of Directors and share governance responsibilities. This ensures the fund remains aligned with the interests of both contributing employers and the managerial workforce. ## Related profiles - [Fondo Pensione Previmoda](https://altss.com/profile/fondo-pensione-previmoda) - [Fondo pensione Quadri e Capi Fiat](https://altss.com/profile/fondo-pensione-quadri-e-capi-fiat) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/fondo-pensione-previndai Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology