NUMA

Nicola Bulgari, the former vice-chairman of the Bulgari luxury house, is the principal and ultimate decision-maker. He is supported by a compact internal team in Milan. The office does not publicly identify a separate CIO or managing director.

NUMA is the private investment vehicle for the liquid wealth generated when LVMH acquired the Bulgari group in 2011. The Bulgari family retains a minority stake in LVMH through that transaction, but NUMA itself is a legally separate family office with no direct management role in the Bulgari brand, which LVMH operates independently.

NUMA follows a hybrid approach. It makes direct minority and control investments, especially in luxury, real estate, and design, where the family's operational heritage provides an edge. It also commits as a limited partner to select private equity, venture capital, and private credit funds, often where the firm's network can support deal origination.

Luxury and high-end consumer brands form the core, reflecting the Bulgari legacy. The office also allocates meaningfully to prime real estate, private credit, venture capital, and special situations. Investments are concentrated in Italy and gateway European cities, with opportunistic exposure to North American and Asian assets.

NUMA maintains a private network posture. It does not market for external co-investors, but it selectively co-invests alongside family offices and private investors who can contribute strategic value in luxury, design, or real estate. All primary relationships are managed by the principal.