Fondo Pensione Telemaco
Also known as Telemaco, Fondo Telemaco
Rome negotiated pension fund for telecoms workers; €2.77bn net assets (end-2025); commits to PE, secondaries, private debt and infrastructure funds directly and via mandates.
- HEADQUARTERS
- Rome, Italy
- FOUNDED
- —
- AUM
- €2.8B (2025)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 2 people
Focus
- STAGES
- GrowthBuyout
- SECTORS
- —
- ASSET MIX
- Funds (as LP)Private equityPrivate creditPublic equities
- GEOGRAPHY
- ItalyEuropeGlobal
Overview
Telemaco is the industry-wide supplementary pension fund for employees of Italian telecommunications companies, registered with COVIP as no. 103 and based in Rome. Net assets for benefits were €2.77bn at the end of 2025. It holds an €81M private-equity mandate with Ardian and an €87M private-debt mandate with Eurizon Capital Real Asset, and from December 2025 subscribed directly to Fondo Italiano d’Investimento’s FoF Private Equity Italia 3 and CDP’s FoF Infrastrutture. In February 2026 its board approved direct commitments to four PE and secondaries funds and awarded a €147M private-debt mandate to Finint Investments SGR (closings not confirmed in the sources read).
PORTFOLIO (9)
- FoF Private Equity Italia 3 (Fondo Italiano d’Investimento SGR, €21M)since 2025
- FoF Infrastrutture (CDP Real Asset SGR, €20M)since 2025
- HAT Technology Fund 5 (€5M commitment approved by board 02/02/2026)since 2026
- Origine Growth PE (€5M commitment approved by board 02/02/2026)since 2026
- Hamilton Lane Secondary Strategy VII (€11.5M commitment approved by board 26/02/2026)since 2026
- Capital Dynamics Global Secondaries VII (€11M commitment approved by board 26/02/2026)since 2026
- Private equity FIA mandate – Ardian (€81M max commitments)
- Private debt FIA mandate – Eurizon Capital Real Asset (€87M max commitments)
- Private debt FIA mandate – Finint Investments SGR (€147M, awarded by board 26/02/2026)since 2026
People
Links
Frequently asked questions
Fondo Pensione Telemaco is a institutional investor based in Rome, Italy.
Fondo Pensione Telemaco does not primarily put its own money into private companies. It also commits capital to third-party funds as an LP.
Fondo Pensione Telemaco invests at Growth and Buyout stages.
Key people at Fondo Pensione Telemaco include Claudio Varani (President) and Stefano Castrignanò (Vice-President).
Fondo Pensione Telemaco's investments include FoF Private Equity Italia 3 (Fondo Italiano d’Investimento SGR, €21M), FoF Infrastrutture (CDP Real Asset SGR, €20M), HAT Technology Fund 5 (€5M commitment approved by board 02/02/2026), Origine Growth PE (€5M commitment approved by board 02/02/2026), Hamilton Lane Secondary Strategy VII (€11.5M commitment approved by board 26/02/2026), Capital Dynamics Global Secondaries VII (€11M commitment approved by board 26/02/2026), Private equity FIA mandate – Ardian (€81M max commitments) and Private debt FIA mandate – Eurizon Capital Real Asset (€87M max commitments), among others.
No. Fondo Pensione Telemaco invests its own capital and does not raise money from outside investors.