Products
Integrations
Services
Company
FUNDRAISING NEWS | January 21, 2025
Italian insurance company Assicurazioni Generali SpA and French banking group BPCE have announced entering into a non-binding MOU to form a joint venture between their asset management operations, representing €1.9T in combined total AUM.
The European firms said the proposed joint venture will be a merging of asset management capacities between Generali Investments Holding (GIH) and BPCE’s Natixis Investment Managers, and will be the ninth largest in the world by AUM. The new entity, accounting for €4.1B in revenues, will be co-owned by Generali and BPCE in a 50-50 split of governance and control rights, with BPCE CEO Nicolas Namias to serve as chairman of its board and Generali CEO Philippe Donnet as vice chairman. GIH CEO Woody Bradford will serve as CEO of the entity, with Natixis CEO Philippe Setbon as deputy CEO. The merger is expected to close in early 2026.
The joint venture will act as insurance asset manager for both firms as well as to strategic partner Cathay Financial Holdings outside of Asia. The combined value of assets and operations contributed by both firms to the Generali-Natixis venture is estimated at €9.5B. Of the joint venture’s combined AUM, insurers and pensions will be the primary source of assets, representing 61%, followed by 25% from retail/wholesale clients, with 14% from other institutional investors. The entity, which is yet to be named, will be headquartered in Amsterdam while maintaining operational hubs in France, Italy, and the United States.
Written By: Dakota
January 29, 2025
March 12, 2024
September 27, 2024
925 West Lancaster Ave
Suite 220
Bryn Mawr, PA 19010
Tel: (610) 642-1481
© Dakota 2024 | Terms of Use | Privacy Policy | California Privacy Policy