Previp Fondo Pensione

Previp Fondo Pensione

Previp Fondo Pensione was founded in 1989. It began as the corporate pension arrangement for Pirelli & C. S.p.A. and for RAS, which became part of Allianz. The structure remains a negotiated Italian pension fund governed by COVIP and affiliated with Assofondipensione. The fund deploys capital across four lines. Linea 1 is a guaranteed insurance mandate run by Allianz. Lines 2 through 4 are balanced mandates managed by Anima SGR, Eurizon Capital, UBS Asset Management, and Generali Insurance Asset Management. Alternative sleeves include commitments to closed-end real estate funds, infrastructure vehicles such as Project Vesta via Eurizon Capital Real Asset SGR, and private equity funds including the Fondo Italiano d'Investimento platform. Geographic exposure centers on Italy and the European Union, with limited global private equity holdings. Ticket sizes range from 10 million to 35 million USD and preferred fund sizes sit between 200 million and 2 billion USD. The organization employs 18 professionals at its Milan headquarters. It maintains memberships in Assofondipensione, Mefop, Forum per la Finanza Sostenibile, Assoprevidenza, and Insurance Europe. In January 2025 Previp launched the Educazione al Welfare project to promote financial literacy among members and associated companies. Service providers include BFF Bank as custodian and fund administrator since 2025, Société Générale Securities Services as prior custodian, and Prometeia as financial advisor. Previp operates under SFDR Article 6 classification. It requires external managers to integrate ESG risk factors while keeping environmental and social characteristics outside its primary mandate. The fund's governance ties to founding sponsors Pirelli and Allianz continue to shape its board composition and associated-company base.