Bring a large pot of salted water to a boil. Add the refrigerated tortellini and cook according to the package instructions, about 3-5 minutes.

Once cooked, drain tortellini and let them cool completely.

In a medium mixing bowl, combine mini pepperoni, sliced black olives, cubed mozzarella, halved cherry tomatoes, and diced roasted red peppers. Fold gently.

Add the cooled tortellini to the bowl and gently stir to combine.

In a separate bowl, whisk together reserved roasted red pepper oil, extra virgin olive oil, balsamic vinegar, red wine vinegar, and parmesan cheese until smooth.

Drizzle the dressing over the salad mixture, gently folding to coat.

Season with salt and pepper to taste, cover, and refrigerate for at least one hour.

Before serving, sprinkle chopped fresh basil over the salad.