Pension funds, almost 20 billion invested in real estate
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Pension funds and brick. A relationship that over the years has experienced periods of passion alternating with turbulence. And that in recent times it has cooled down to the point of pushing some institutions to sell entire real estate packages. The most striking case is that of Enpam, the national social security institution for doctors and dentists, which sold in 2022, after a long and hard-fought tender, a package of assets of various types worth 842 million euros to the Americans of Apollo. Not only. Hoping to diversify and to pursue better returns, some Banks have begun to look beyond the borders, aiming to acquire properties in some foreign capitals.
It’s Italy? The assets invested in real estate has gradually decreased, as stated in the Covip press release at the end of last year which certified an increase in the assets of the pension funds which went from 65 billion euros from 2013 to 108 billion euros in 2021, but with real estate investments , equal to 19.8 billion euros (19.6 in 2020), down as a percentage of assets (18.3 against 19.4%). Fewer shares of real estate funds, which however represent the largest share of investments, but also fewer properties held directly.
But the money from the coffers is tempting and could represent an important element in various areas of development of the country. Central theme discussed yesterday in Rome at Adepp’s States General.
Yesterday’s shared and clear agenda of European and Italian priorities set out three cornerstones: the energy transition, the
fight against social inequality and infrastructural and urban regeneration.
«Growth is particularly important in this historical period to accelerate the cultural and industrial transition and reduce inequalities by generating employment through cooperation/partnership as an operating method» emerged from the conference. A way to ensure that the Italian system can coordinate with common and stringent objectives.
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