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Geroa Pentsioak
Geroa Pentsioak EPSV was created in 1996 through collaboration between the Gipuzkoa business association ADEGI and the unions ELA, LAB, CCOO, and UGT.
Geroa Pentsioak
Geroa Pentsioak EPSV was created in 1996 through collaboration between the Gipuzkoa business association ADEGI and the unions ELA, LAB, CCOO, and UGT. The structure channels contributions from companies and employees into a single employment-based welfare entity focused on retirement income in the region. The fund allocates roughly 4 percent to private equity with a 5 percent target. It also maintains infrastructure exposure that replaced prior real estate holdings. Geographic reach centers on Spain with additional European and global infrastructure positions. Confirmed holdings include a 7.19 percent stake in Holaluz-Clidom acquired initially in 2019 and direct interests via ORZA AIE in Cybersurgery, Satlantis, Ezarri, and Histocell. Virginia Oregui serves as managing director while Ramón Nieto handles asset allocation and fixed income. The entity employs BNP Paribas as depositary and KPMG as auditor. It signed the PRI in 2015 and attended the PRI Spring Initiative in 2024 on biodiversity stewardship. Geroa Pentsioak operates through a 50/50 joint venture in ORZA AIE with Elkarkidetza EPSV, giving it a dedicated vehicle for direct Spanish company investments outside standard fund commitments.
General information
Firm type
Pension Fund
Year founded
1996
Location
Region
Europe
Country
Spain
City
San Sebastián-Donostia
Corporate office
Paseo de Lugaritz 27, bajo, 20018 San Sebastián-Donostia, Gipuzkoa, Spain
Principals
Virginia Oregui
Managing Director
Ramón Nieto
Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Geroa Pentsioak?
Virginia Oregui serves as managing director. Ramón Nieto acts as chief investment officer with responsibility for asset allocation and the fixed income portfolio.
How is Geroa Pentsioak structured relative to standard pension vehicles?
It functions as an EPSV de empleo preferente, a Spanish employment social welfare entity. Contributions come jointly from employers and workers under a governing board that includes ADEGI and the founding unions.
Does Geroa Pentsioak participate in fund commitments or direct deals?
It commits to private equity strategies and holds a 50 percent interest in ORZA AIE for direct investments. Positions include stakes in Cybersurgery, Satlantis, and Histocell.
What asset classes receive allocation at Geroa Pentsioak?
The fund targets private equity at a 5 percent level with current exposure near 4 percent. It also maintains infrastructure holdings and listed equity positions such as Holaluz-Clidom.
Where does Geroa Pentsioak source its investment opportunities?
Opportunities arise through the ORZA AIE joint venture and relationships with service providers including Credit Suisse and Banco Santander. The fund also participates in PRI initiatives for additional network access.
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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