Government-backed FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 10 SOURCES

CDP Equity

Investment holding wholly owned by Cassa Depositi e Prestiti (CDP)

Also known as CDP Equity S.p.A., CDPE, Fondo Strategico Italiano, FSI (Fondo Strategico Italiano)

Milan holding wholly owned by Cassa Depositi e Prestiti (ex Fondo Strategico Italiano, 2011); stakes in companies of national interest, fund units and stakes in FII, CDP VC and F2i SGRs.

HEADQUARTERS: Milan, Italy
FOUNDED: 2011
AUM: €11.3B (2025)
OUTSIDE CAPITAL: No — own capital only
TEAM LISTED: 3 people

Focus

STAGES: GrowthBuyout
SECTORS: Industrial & Manufacturing Fintech Software & SaaS HealthTech Climate & Energy Food & Agriculture
ASSET MIX: Direct investmentsPrivate equityVenture capitalPrivate creditFunds (as LP)
GEOGRAPHY: Italy

Investment arms & vehicles

CDP Venture Capital SGR
Venture capital manager; 70% held by CDP Equity
Fondo Italiano d’Investimento SGR
Private equity, private debt and fund-of-funds manager; 55% held by CDP Equity

Overview

CDP Equity S.p.A. was set up on 2 August 2011 as Fondo Strategico Italiano and took its current name on 31 March 2016; it is wholly owned by Cassa Depositi e Prestiti. It takes stakes in companies of “relevant national interest”, preferably as a minority shareholder, and invests indirectly by subscribing funds managed by group and third-party SGRs. At 31 December 2025 its portfolio included Ansaldo Energia, Autostrade per l’Italia (via Holding Reti Autostradali), Fincantieri, Open Fiber, Nexi, Saipem, Webuild and Euronext, and it held 70% of CDP Venture Capital SGR, 55% of Fondo Italiano d’Investimento SGR and 14% of F2i SGR. Its 2025 balance sheet carried €10.4bn of equity investments and €0.9bn of fund units.

PORTFOLIO (22)

Autostrade per l’ItaliaNOTABLE
Mobility & Logistics
FincantieriNOTABLE
Industrial & Manufacturing
NexiNOTABLE
Fintech
Open FiberNOTABLE
Industrial & Manufacturing
Ansaldo Energia
Industrial & Manufacturing
Diagram
Food & Agriculture · since 2025
Euronext
Fintech
GPI
HealthTech
GreenIT
Climate & Energy
Hotelturist
Consumer & E-commerce
Kedrion
Biotech & Life Sciences
Polo Strategico Nazionale
Software & SaaS
Renovit
Climate & Energy
Saipem
Industrial & Manufacturing
Trevi Finanziaria Industriale
Industrial & Manufacturing
Valvitalia
Industrial & Manufacturing
Webuild
Industrial & Manufacturing
Zenita (ex Maticmind)
Software & SaaS
PIMCO European Data Centre Opportunity Fund (fund commitment, €50M)
Real Estate & PropTech · since 2025
Marguerite III (fund commitment)
FoF Private Equity Italia Tre (fund commitment, FII SGR)
FoF VenturItaly (fund commitment, CDP VC SGR)

People

Paolo Perrone
Chairman · source
Fabio Barchiesi
Chief Executive Officer and General Manager · source
Francesca Fonzi
Board member · source

Frequently asked questions

CDP Equity is a government-backed fund based in Milan, Italy, founded in 2011.

Yes. CDP Equity invests its own capital in private companies. It also commits capital to third-party funds as an LP.

CDP Equity invests at Growth and Buyout stages in Industrial & Manufacturing, Fintech, Software & SaaS, HealthTech, Climate & Energy and Food & Agriculture.

Key people at CDP Equity include Paolo Perrone (Chairman), Fabio Barchiesi (Chief Executive Officer and General Manager) and Francesca Fonzi (Board member).

CDP Equity's investments include Autostrade per l’Italia, Fincantieri, Nexi, Open Fiber, Ansaldo Energia, Diagram, Euronext and GPI, among others.

The most recent publicly reported investment by CDP Equity is Trevi Finanziaria Industriale (Pro-rata €21.3M commitment in a €100M capital increase), announced in Mar 2026.

No. CDP Equity invests its own capital and does not raise money from outside investors.