What’s the largest Italian family office by AUM?

The Ferreros are the richest Italian family with a net worth over €30bn. The investment vehicles of the family behind the Ferrero food company are, according to the familyofficehub.io team, the largest Italian family offices. The main Ferrero family office is the Monaco-based firm Fedesa S.A.M. However, since its foundation in 2016, Giovanni Ferrero also invests through the Belgium-headquartered CTH Invest N.V.

How do the Ferrero family offices invest?

In general, there is few information available about the Ferrero family offices, which is also due to a structure of multiple interlinked holdings in jurisdictions such as Luxembourg and the British Virgin Islands, and affiliated companies like Schenkenberg SA. The following information is based on the deep-dive research process about Italian family offices through the experienced familyofficehub.io team.

As already mentioned, the Ferrero family manages its wealth through multiple investment entities. The primary vehicle is Fedesa S.A.M., a Monaco-based family office. According to publicly available LinkedIn profiles of its employees, Fedesa invests in equities, credit, private equity, venture capital, and hedge funds.

In addition to Fedesa, the Ferrero family controls Teseo Capital, a Luxembourg-based investment company active in alternative assets and the agribusiness sector.

Giovanni Ferrero also operates through CTH Invest N.V., a holding company founded in Belgium in 2016. CTH Invest has acquired several confectionery firms, including Ferrara Candy, Delacre, Kelsen, and the Brazilian company Dori Alimentos. The firm evolved from a previous entity named CDM International Holding, originally registered in the British Virgin Islands, later relocated to Luxembourg, and merged with CTH Invest. As of recent reports, CTH Invest manages an investment volume of over €3 billion.

Alternative candidates for the Italian family office ranking by AUM

Our familyofficehub.io team looked at various large, alternative Italian family offices during the creation of this article. One noteworthy family investment vehicle is LMDV Capital, the family office of EssilorLuxottica owner Leonardo Maria Del Vecchio, which manages several billions in AUM. The family office invests in venture capital, private equity, hedge funds and direct investments. Also, Stefano Pessina, who is worth multiple billions and Walgreens’ largest shareholder, has his own family office, which is, however, rather secretive. Another noteworthy Italian family office is H14 S.p.A., the investment vehicle of the Berlusconi family.

Picture Source: Gabriella Clare Marino, Unsplash+ (30.04.2025)