Fondoposte, Rome, hired LGT Capital Partners to manage new allocations to private debt and private equity, a spokesman said.
Fondoposte, with €2.3 billion ($2.7 billion) in assets, will invest €50 million in each of the asset classes for the first time.
"In light of the uncertainties surrounding the current economic and financial scenario, the management mandate will agree to a broad diversification of investments and an efficient tactical allocation with the possibility of accessing all the best opportunities offered by the primary market with secondary equity," Antonio Nardacci, president of the pension fund, said in a news release.
The RFP was announced in the second half of 2019. Some 15 international companies operating in the sector participated in the selection process.
