ENPAF
Also known as Ente Nazionale di Previdenza e di Assistenza Farmacisti, Enpaf
Rome pension body of Italian pharmacists; €3.78bn total assets (end-2025); LP in private equity, private debt and infrastructure funds; holds 8.9% of InvestiRE SGR.
- HEADQUARTERS
- Rome, Italy
- FOUNDED
- —
- AUM
- €3.8B (2025)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 1 people
Focus
- STAGES
- Buyout
- SECTORS
- —
- ASSET MIX
- Private creditPrivate equityReal estatePublic equities
- GEOGRAPHY
- ItalyEuropeGlobal
Overview
ENPAF is the pension and welfare body of Italian pharmacists, based in Rome. Its 2025 accounts show total assets of €3.78bn. Its portfolio is mostly bonds, UCITS funds and the FIEPP real-estate fund, of which it is the sole unitholder; the Corte dei conti report on 2022 lists closed-end AIF holdings including Clessidra Capital Partners 4, Made in Italy Fund, Eurazeo Private Debt VI and DWS Pan European Infrastructure III.
PORTFOLIO (8)
- Clessidra Capital Partners 4
- Made in Italy Fund (Quadrivio SGR)
- Eurazeo Private Debt VI (€13.2M new subscription)since 2022
- BlackRock European Middle Market Private Debt Fund I and III
- DWS Pan European Infrastructure III
- J.P. Morgan Infrastructure Investment Fund
- Partners Group Global Value SICAV
- InvestiRE SGR (8.9% direct stake)
People
- Maurizio PacePresident · source
Links
Frequently asked questions
ENPAF is a institutional investor based in Rome, Italy.
Yes. ENPAF invests its own capital in private companies. It also commits capital to third-party funds as an LP.
ENPAF invests at Buyout stage.
Key people at ENPAF include Maurizio Pace (President).
ENPAF's investments include Clessidra Capital Partners 4, Made in Italy Fund (Quadrivio SGR), Eurazeo Private Debt VI (€13.2M new subscription), BlackRock European Middle Market Private Debt Fund I and III, DWS Pan European Infrastructure III, J.P. Morgan Infrastructure Investment Fund, Partners Group Global Value SICAV and InvestiRE SGR (8.9% direct stake).
No. ENPAF invests its own capital and does not raise money from outside investors.