Italian pension fund for psychologists, L’Ente Nazionale di Previdenza e Assistenza per gli Psicologi (Enpap), has assigned private equity mandate to Schroders.

The asset manager’s real assets subsidiary Schroders Adveq will run a €100m fund of funds strategy for the institutional investor. The investment team is led by senior investment director Richard Damming.

The mandate will focus on specialized small- and mid-size buyouts in Europe and North America, with a particular focus on Italy. The team will manage a balanced portfolio and follow a multi-strategy approach.

The strategy will invest across sectors, with a bigger exposure to areas that benefit from strong megatrends, such as healthcare and telecommunications.

Schroder Adveq was founded in 1997 and currently has €10bn in assets under management, with €180m commitments coming from Italy in the past three years.

Felice Damiano Torricelli, president of Enpap, said the mandate is part of the pension fund’s decision to invest in areas that will be part of the economic recovery.

One of the reasons for Schroders winning the mandate was to guarantee the full integration of ESG criteria into investments, which fits Enpap’s commitment to carry out sustainable and responsible investment policies.

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