DeA Capital Re, Bankitalia spotlight on transactions with Czech Vítek
The three funds in focus are Third Eye, Vision and Generation Fund. They belong to CPI Property and manage assets of around EUR 700 million. Tomorrow the shareholders' meeting for the renewal of the top management, among the papable names Giancarlo Scotti
Excessive exposure to money laundering risk and the need for urgent action in terms of both governance and procedures. But there is more behind it.
As explained by various sources contacted by Il Sole 24 Ore, behind the outcome of Bankitalia's inspection - which lasted several months during 2025 - in the offices of DeA Capital Re Sgr there would be a desire to turn the lights on at least three funds: these would be the closed and reserved funds Third Eye, Vision and Generation Fund, used to finance real estate projects in Rome and all traceable to CPI Property Group, owned by Czech billionaire Radovan Vítek. Funds that would manage assets worth a total of around €700 million and that would be linked to sites and plots originally owned by the Parnasi real estate group, one of the main developers in the capital, which then collapsed in 2018 due to the scandal linked to the failed Roma stadium development project at Tor di Valle.
According to the sources, what the regulators want to shed light on is whether all appropriate controls and mechanisms to supervise and combat money laundering risk have been activated on the large capital flows related to real estate developments and funds controlled by the SGR. The inspections, concluded in December 2025, followed an extraordinary audit that the same supervisory authority had requested on one of the three funds. The findings, last April, warned of an excessive exposure to the risk of money laundering and of the need to take urgent action, in accordance with the measure received. That is: a remedial plan, a new business plan (taking into account an increase in costs for anti-money laundering countermeasures), but above all a reset of top management and company officers.
The Bank of Italy has called for a replacement of the majority of the members of the board of directors and the board of statutory auditors, including the chairman and the managing director, their replacement with exponents who have not previously held offices or operational roles at the SGR, and the presence of at least one director with strong anti-money laundering skills. Tomorrow the shareholders' meeting is expected to appoint the new board of directors, board of statutory auditors and chairman. At the beginning of next week, the name of the new CEO should also be known. In recent days the names of Giancarlo Scotti, former CEO of Cdp Real Asset Sgr, and manager Dario Frigerio had emerged, but the latter candidature is reportedly on the wane.
It must be said that neither the Czech real estate tycoon nor his companies are currently under investigation in Italia.
