Fondazione Cassa di Risparmio di Modena is an independent non-profit foundation located in Modena, Italy. Established in 1991, the foundation focuses on areas such as art, cultural activities and heritage, scientific and technological research, and activities of considerable social value. The assets of the foundation are managed and governed by the board of directors.Fondazione Cassa di Risparmio di Modena's investment portfolio is valued at EUR 914.62 million as of December 31, 2019, with investments in private equity, real estate, hedge funds, infrastructure, real assets, natural resources, publicly-traded equities, fixed income securities, and cash.