The French company Natixis Investment Managers and Italy's Generali (BIT:GASI)
will collaborate to establish a new European asset manager that will manage
€1.9 trillion ($1.979 trillion).
In a joint statement on Tuesday, the French retail bank Groupe BPCE and the
Italian insurer said they had reached an initial agreement to create a new
company in which they would each own 50% of the company and have equal
governance and control rights.
Through its Generali Investments business, Generali manages its assets. The
acquisition of Connecticut-based Conning Holdings, which serves both Asian and
U.S. clients, has lately reinforced the segment. Meanwhile, U.S. companies
Harris Associates and Loomis (LON:0JYZ) Sayles are part of Natixis' network of
fund boutiques.
Woody Bradford, the current CEO of Generali's investment division, who joined
the business through the Conning purchase, will serve as the leader of the
newly established joint venture. The position of chairman will be taken up by
BPCE CEO Nicolas Namias.
Depending on the required permissions, the deal should be finalized by early
2026. While Generali will see repayment tranches of a loan related to its
recent acquisition of U.S. private direct-lending investment firm MGG, BPCE
will obtain preferential dividend rights over 2026 and 2027.
AI assisted in the creation of this article, which was then edited. See our
T&C for further details.
0 Comments