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S&O Multifamily Office
Edoardo Sella's S&O Multifamily Office, founded 1988 in Bologna, advises families on wealth and owns Italian real estate and art.
S&O Multifamily Office
S&O Multifamily Office was founded in Bologna in 1988 by partner Edoardo Sella, a member of the Italian banking family that controls Banca Sella Group. The firm grew out of the Sella family's need to manage intergenerational wealth and now serves multiple families, with partner Paolo G. G. Olivieri active in the Italian Family Officer association AIFO. S&O deploys capital directly into hard assets. The firm's confirmed investment type is real estate, and Altss research identifies two significant properties: a commercial asset on Via Manzoni in Milan and the Galleria Office Building in Rome. The firm also oversaw the loan of the Sella-Olivieri Collection to the Museo del Novecento in Milan, reflecting an art-advisory capability that sits alongside pure property management. S&O's geographic footprint remains concentrated in Italy, with confirmed European real estate exposure and no publicly disclosed positions outside the region. The firm operates from headquarters in Bologna with an additional property-based presence in Rome. Total assets under advisement and deployment numbers are not disclosed. Adjacent structures include the philanthropic Fondazione Sella. A February 2026 news item on the firm's website was titled "Family office founder won over by 'remarkably simple approach'", signaling the firm's emphasis on clear, strategic governance over product proliferation. The firm also published a June 2024 piece on value synthesis between generations, underlining its focus on succession planning. S&O's structural posture combines a single-family's banking heritage with a multi-family advisory practice, retaining direct ownership of collection-grade art and prime Italian real estate. That blend — in-house property and art on one side, multi-generational fiscal planning on the other — distinguishes it from advisory-only multi-family offices that hold no balance-sheet assets.
General information
Firm type
Multi Family Office
Year founded
1988
AUM
Undisclosed
Location
Region
Europe
Country
Italy
City
Bologna
Corporate office
Via Malpertuso, 1, Bologna, Italy
Additional offices
Rome, Italy
Principals
Edoardo Sella
Partner
Paolo G. G. Olivieri
Partner
Sector focus
Frequently asked questions
Who runs investment decisions at S&O Multifamily Office?
Partners Edoardo Sella and Paolo G. G. Olivieri lead the firm. Sella comes from the family behind Banca Sella Group, while Olivieri is a member of AIFO, the Italian family officer association. Day-to-day investment decisions are made by the partnership in Bologna.
Does S&O participate in fund commitments or only direct deals?
Public signals point to direct asset ownership. Altss research confirms two commercial real estate holdings — an office building in Rome and a property on Via Manzoni in Milan — and the firm also stewards the art collection on loan to the Museo del Novecento. There is no public evidence of fund commitments.
Which sectors does S&O explicitly avoid?
The firm's confirmed investment type is real estate, and its publicly visible holdings are all property and art. No technology, healthcare, or private equity positions are disclosed, suggesting the firm avoids liquid public markets and venture-stage risk.
How is S&O related to Banca Sella?
Partner Edoardo Sella is a member of the Sella family, the controlling dynasty behind Banca Sella Group. The family's holding company, Finanziaria Sella, has board-level connections to Edoardo Sella. S&O itself is a separate multi-family office, not a division of the bank.
Where does the underlying wealth come from?
The originating wealth traces to the Sella family's Italian banking operations, built through Banca Sella Group. The multi-family office now serves additional families beyond the Sella lineage, though the founding capital is banking-origin.
Does S&O maintain philanthropic structures, and how are they separated?
Fondazione Sella serves as the family's philanthropic vehicle. Altss research confirms the foundation's existence, and S&O's operational and advisory workflows appear separate from the foundation's grant-making activities.
What is S&O's known posture on co-investments alongside external GPs?
There is no public evidence that S&O co-invests alongside external general partners. The firm's confirmed activity shows direct Italian real estate ownership and art stewardship, suggesting a GP-avoidant, asset-heavy model.
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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