The Separate Fund: A Peculiar Italian Legal Concept

Pierre de Gioia-Carabellese, Nicola Cecchetto

Research output: Contribution to journalArticlepeer-review


Under Italian Law, the separate fund (or patrimoni destinati ad uno specifico affare) is a concept introduced as a result of the Italian company law reform a decade ago to introduce an innovative way to do business. In short, a fraction up to ten per cent of the assets of a company is to be isolated from the company of origin and set up to carry out business by itself, with a high degree of autonomy in terms of liabilities, albeit under the management of the parent entity.
Original languageEnglish
Pages (from-to)45-50
Number of pages6
JournalEuropean Company Law
Issue number2
Publication statusPublished - 2013
Externally publishedYes


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