Investing.com — Italy’s Generali (BIT:) and France’s Natixis Investment Managers are set to join forces to create a new European asset manager overseeing 1.9 trillion euros ($1.979 billion).
Italian insurer and French retail bank Groupe BPCE have signed a preliminary agreement to form a new entity, each holding 50% of the capital with equal governance and control rights, as announced in a joint statement on Tuesday.
Generali conducts its asset management operations through its Generali Investments division. The division was recently strengthened with the acquisition of Conning Holdings, based in Connecticut, which caters to American and Asian customers. Natixis manages a network of fund boutiques which includes the American companies Harris Associates and Loomis (LON:) Sayles.
The newly created joint venture will be led by Woody Bradford, the current chief executive of Generali’s investment division, who joined the company as part of the Conning deal. Nicolas Namias, CEO of BPCE, will serve as chairman.
The deal is expected to be finalized in early 2026, pending necessary approvals. During 2026 and 2027, BPCE will benefit from preferential rights on dividends, while Generali will see the repayment of tranches of a loan linked to its recent acquisition of the American direct lending private investment company MGG.
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