About Us

A trusted partner combining financial expertise and real estate development experience.

Who we are

Europa Risorse SGR is an Italian asset and fund management company regulated by the Bank of Italy. We combine solid financial expertise with decades of experience in real estate development, applying international best practices to deliver efficient and reliable investment solutions.

We specialize in real estate asset and fund management for international institutional investors, supporting complex projects through a disciplined, hands-on approach. Our integrated platform, spanning development, asset management, and investment oversight, represents a key competitive advantage and enables us to create sustainable, long-term value.

Europa Risorse’s Values

  • We understand the investors needs and offer support in meeting them in the most efficient and timely manner
  • We aligns our interest with the targets of the investors, by reducing the development risk
  • We dedicate all efforts to turn ideas into reality. Finding the best solution through flexibility and critical vision, unbinding hidden value from every project we take on
  • We care about quality, architecture, innovations, but also pay attention to historical value and existing worth
  • We carry on business in an ethical and transparent manner, while offering vertical services in order to cover the full value chain, creating value every step of the way
  • We monitor projects before and after completion, providing the investors with a periodical and pragmatic report

Our partners in creating long-term value

What we do

Europa Risorse SGR provides real estate asset and fund management services to international institutional investors. We manage and oversee investments across the entire lifecycle, from acquisition and development to value creation and divestment.

Our approach combines financial discipline, technical expertise, and active management. By leveraging our integrated development and asset management expertises, we are able to structure, manage, and monitor complex real estate investments, ensuring transparency, risk control, and sustainable long-term returns.

Our ability to take on complex projects by leveraging our development and asset management expertises has become what we view as our competitive advantage.

History

Tracing back its origins to 1998, Marc Mogull and Antonio Napoleone founded ER as an independent platform specialized in asset, development, project and fund management for leading institutional and private investors. The two founders had previously worked together for over 10 years in Central and Eastern Europe successfully taking on large regeneration projects.

1998

Marc & Antonio decide to start a JV in Italy, registering it in 2001 as Europa Risorse Srl

2008

With the objective to offer investors the highest international standards and a large variety of services, ER establishes an SGR, a Bank of Italy regulated fund and asset management business, to operate in parallel to the development management firm

2011

Partners of Benson Elliot become partners of ER Srl and its asset management company, ER SGR. Today, the main shareholders are both top managers of BE and ER

2020

Over its more than 20-year history the platform has generated value in excess of €2bn

Over the years it has been rewarded during Mipim events as Best Italian Developer and Best Italian Ethical Fund by leading real estate magazines

2022

The Development capabilities of Europa Risorse Srl are integrated in the asset and fund management company of the Group: Europa Risorse SGR

Governance

Our governance team provides oversight and strategic guidance, ensuring that all decisions are made with professionalism, integrity, and adherence to regulatory standards.

Board of Directors

Chairman

Antonio Napoleone

Antonio Napoleone is the Chairman of Europa Risorse SGR and Managing Director of Europa Risorse Srl. He has a long-standing career in real estate development, beginning in 1976 as a construction manager and progressing to leadership roles in major property development projects for institutional investors.

He founded Europa Risorse Srl in 2001 and Europa Risorse SGR in 2008, bringing his deep expertise in real estate and asset management to the company’s strategic direction.

Antonio holds a Degree in Civil Engineering and has shared his experience as a lecturer in real estate development at leading institutions, including the Polytechnic University of Milan, SDA Bocconi, and LUISS Business School in Rome. In 2007, he received the Best Italian Developer of the Year award at MIPIM with Europa Risorse.

Chief Executive Officer

Fabrizio Antonini

Fabrizio Antonini is the Chief Executive Officer (CEO) of Europa Risorse SGR, an Italian asset and fund management company specializing in real estate for institutional investors.

With extensive experience in finance and real estate, he leads the company’s strategy and operations, promoting the adoption of international best practices and a value- and sustainability-driven approach for partners and international investors.

He holds a Degree from the University of Padua, providing a solid academic foundation to support his leadership in investment and asset management.

Independent Director & Conflict of Interest Officer

Daniele Bernardi

Daniele Bernardi is an Independent Director and Conflict of Interest Officer at Europa Risorse SGR, with extensive experience as a chartered accountant and statutory auditor. He has spent decades supporting corporate governance, financial reporting, and supervisory roles across financial intermediaries and real estate organizations.

He is a founding partner of Bernardi & Associati, where he specializes in audit, corporate governance, valuations, and extraordinary transactions. His expertise ensures robust oversight and risk management frameworks within the companies he serves.

In addition to his professional practice, Daniele Bernardi has contributed to academic programs on corporate auditing, governance, and control systems at the University of Milan-Bicocca and other institutions.

Independent Director & Head of Anti-Money Laundering Function

Guido Arie Petraroli

Guido Arie Petraroli is an Independent Board Member and Head of Anti-Money Laundering at Europa Risorse SGR, with over 30 years of experience in a wide range of tax matters. He specializes in private equity transactions, acquisition finance, and real estate finance.

Guido began his career at Andersen Legal and later worked in the Ernst & Young Tax Department. From 2003 to 2017, he was a Partner at Fantozzi & Associati in Milan. In 2018, he co-founded LED Taxand with Alfredo Fossati, providing strategic tax advisory to multinational corporations and institutional investors.

He holds a Degree in Economics from the Università Cattolica del Sacro Cuore in Milan and a Master’s Degree in Corporate Tax Law.

Director

Leopoldo Andreis De Gregorio

Leopoldo Andreis De Gregorio is the Director of Europa Risorse SGR  and a seasoned real estate investment professional with over 20 years’ experience across major European markets. He brings expertise in originating, evaluating, structuring, and negotiating complex real estate transactions.

He began his career in asset management and valuation and later served as Vice President at Lehman Brothers, leading transactions with total acquisition and development costs exceeding €1 billion. After six years at Benson Elliot’s London office now part of Pinebridge Investments, he relocated to Milan to focus on the Italian market as Managing Director.

Leopoldo’s extensive experience in real estate investment and capital markets strengthens Europa Risorse SGR’s strategic vision and ability to deliver value across international real estate portfolios.

Director

Luca Scollo

Luca Scollo is a Board Member at Europa Risorse SGR, bringing experience from investment management and real estate finance. He currently serves as Investment Manager at PineBridge Investments, following roles at Benson Elliot (now part of PineBridge), where he was involved in evaluating and executing institutional investment opportunities.

Luca’s professional background includes significant involvement in real estate and private markets, contributing to investment analysis, transaction structuring, and portfolio oversight for leading institutional investors.

He holds a Master of Science from Bocconi University and completed graduate coursework at the University of Otago, along with executive training at SDA Bocconi School of Management, underpinning his expertise in financial markets and investment practice.

Board of Statutory Auditors

  • Federico Trutalli – President
  • Gabrio Pellegrini – Statutory Auditor
  • Stefania Pellizzari – Statutory Auditor
  • Carlo Zambelli – Alternate Auditor
  • Michaela Marcarini – Alternate Auditor

Supervisory Body

  • Daniele Bernardi – President
  • Giulia Mancini
  • Monica Foglizzo
Organismo di Vigilanza

Control Functions

  • Roberto Bellinello – Risk Management
  • Carmen Donato – Compliance
  • Federico Cavazza – Internal Audit
  • Guido Arie Petraroli – Head of Anti-Money Laundering

Management

Our management team is responsible for the day-to-day leadership and execution of the company’s strategy, ensuring operational excellence, accountability, and the achievement of our long-term objectives.

Chief Executive Officer

Fabrizio Antonini

Fabrizio Antonini is the Chief Executive Officer (CEO) of Europa Risorse SGR, an Italian asset and fund management company specializing in real estate for institutional investors.

With extensive experience in finance and real estate, he leads the company’s strategy and operations, promoting the adoption of international best practices and a value- and sustainability-driven approach for partners and international investors.

He holds a Degree from the University of Padua, providing a solid academic foundation to support his leadership in investment and asset management.

Director

Leopoldo Andreis De Gregorio

Leopoldo Andreis De Gregorio is the Director of Europa Risorse SGR and a seasoned real estate investment professional with over 20 years’ experience across major European markets. He brings expertise in originating, evaluating, structuring, and negotiating complex real estate transactions.

He began his career in asset management and valuation and later served as Vice President at Lehman Brothers, leading transactions with total acquisition and development costs exceeding €1 billion. After six years at Benson Elliot’s London office, he relocated to Milan to focus on the Italian market.

Leopoldo’s extensive experience in real estate investment and capital markets strengthens Europa Risorse SGR’s strategic vision and ability to deliver value across international real estate portfolios.

Head of Fund Management

Massimiliano Pipitone

Head of Fund Management of Europa Risorse SGR, joined the firm in 2014 after more than 2 years in Sorgente SGR SpA, where he was responsible of the Fund Management team and managed five Real Estate Alternative Investment Funds for a total Asset under Management at approximately €800M. Prior Sorgente he had been credit risk analyst at Eurizon Capital SGR SpA, from 2004 to 2007, and then had joined Vegagest Immobiliare SGR SpA running several funds, as Head of Risk Management and then Fund Manager.
Massimiliano Pipitone, has a degree in Economics at the University of Palermo and he has also a master in financial analysis at the Italian Stock Exchange/IULM University and executive courses in SDA Bocconi.

Head of Business Development

Pasquale Del Mastro

Pasquale Del Mastro is Head of Business Development at Europa Risorse SGR, leading initiatives to expand the company’s market presence and foster strategic relationships with institutional investors.

He began his career at Europa Risorse in 2002. From 2002 to 2007, he worked as Quality Control and Construction Manager for Bodio Center and as Developer Manager for the residential development Orti Antichi. Between 2007 and 2011, he was Development Manager for residential projects in Rome and Foligno, and coordinated urban development projects in Tarquinia. Since 2007, he has managed the New Monteluce project in Perugia, and since 2014, the Monticello project in Rome.

He also provides techno-economic analysis and due diligence for development projects and real estate funds managed by Europa Risorse SGR. Pasquale holds a degree in Architectural Engineering from the University of L’Aquila.