Investment Strategy
Cassa Depositi e Prestiti (CDP) is Italy’s national promotional institution and its largest institutional investor, with roots dating back to 1850. Majority-owned by the Italian Ministry of Economy and Finance, CDP manages over $500 billion in assets sourced primarily from Italian postal savings products distributed through the Poste Italiane network. CDP is a member of the International Forum of Sovereign Wealth Funds, reflecting its role as Italy’s de facto sovereign wealth vehicle.
CDP’s investment strategy spans infrastructure development, strategic equity investments in Italian companies, real estate, venture capital, and international cooperation. The institution played a central role in Italy’s economic response to the pandemic and continues to be a primary vehicle for channeling investment into the Italian economy under the EU’s NextGenerationEU recovery program.
CDP Equity manages strategic stakes in nationally important Italian companies across energy, telecommunications, infrastructure, and defense. CDP Venture Capital, established in 2020, is building Italy’s venture capital ecosystem through fund-of-funds investments, direct investments, and co-investment with international VC firms. CDP Real Asset manages a significant infrastructure and real estate investment portfolio.
How to Approach
International GPs should approach CDP’s relevant investment divisions in Rome. For private equity, the CDP Equity team evaluates co-investment and fund commitment opportunities. For venture capital, CDP Venture Capital maintains an active fund-of-funds program and co-investment mandate. Infrastructure managers should engage with CDP Infrastrutture. CDP’s strategic importance to the Italian economy means it is receptive to partnerships that align with national development priorities, including digital infrastructure, energy transition, sustainability, and Italian SME growth. CDP participates in major European and international institutional investor conferences.
Frequently Asked Questions
What is Cassa Depositi e Prestiti?
CDP is Italy's national promotional institution, founded in 1850. Majority-owned by the Italian Ministry of Economy and Finance, CDP manages over $500 billion (EUR 460 billion) in assets, primarily funded by Italian postal savings (buoni fruttiferi postali and libretti di risparmio). CDP invests in infrastructure, companies, real estate, and international cooperation to support Italian economic development.
How does CDP invest in private equity and alternatives?
CDP is one of Italy's most significant institutional investors in private markets. Through CDP Equity, the company manages strategic stakes in Italian companies. CDP Venture Capital supports Italy's startup ecosystem. CDP Real Asset manages infrastructure and real estate investments. The group also invests through fund-of-funds vehicles and direct co-investments with international GP partners.
Can international fund managers partner with CDP?
Yes, CDP works with international fund managers across private equity, infrastructure, and venture capital. The company is a member of the International Forum of Sovereign Wealth Funds and actively seeks partnerships that bring expertise and capital to Italian economic priorities. GPs with strategies relevant to Italian infrastructure, industrial development, and innovation should approach CDP's investment teams in Rome.
