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 ($1.979 trillion).
The Italian insurer and French retail bank Groupe BPCE have signed a preliminary agreement to form a new entity, each holding a 50% stake with equal governance and control rights, as announced in a joint statement on Tuesday.
Generali conducts its asset management operations via its Generali Investments division. The division has recently been strengthened with the acquisition of Connecticut-based Conning Holdings, which caters to U.S. and Asian clients. Meanwhile, Natixis operates a network of fund boutiques that includes U.S. firms Harris Associates and Loomis (LON:) Sayles.
The newly formed joint venture will be led by Woody Bradford, the current chief executive of Generali’s investment division, who joined the company through the Conning deal. Nicolas Namias, the CEO of BPCE, will assume the role of chairman.
The deal is expected to finalize by early 2026, pending necessary approvals. Over the course of 2026 and 2027, BPCE will receive preferred dividend rights, while Generali will see repayment tranches of a loan associated with its recent acquisition of U.S. private direct-lending investment firm MGG.
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