Bring a large pot of salted water to a boil. Cook the refrigerated tortellini according to package instructions (3-5 minutes). Drain and let cool.

In a mixing bowl, combine diced mini pepperoni, sliced black olives, cubed mozzarella, halved cherry tomatoes, and diced jarred roasted red peppers. Stir gently to mix.

Once cooled, add the tortellini to the vegetable mixture and gently fold to combine.

In another bowl, whisk the reserved roasted red pepper oil, extra virgin olive oil, balsamic vinegar, red wine vinegar, and grated Parmesan until smooth.

Pour the dressing over the salad and gently fold to coat all ingredients.

Season with salt and pepper, mix gently, cover, and refrigerate for at least one hour.

Before serving, sprinkle chopped fresh basil on top and serve chilled.