Italian insurer Generali has entered into exclusive talks to acquire a majority stake in France’s Sycomore Asset Management.

Sycomore focuses on sustainable investments and managed over €8.3bn in assets at the end of July 2018.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Under the proposal, the French asset manager would become part of the Generali multi-boutique platform coordinated by Generali Investments Partners.

Sycomore founders will continue to be significant shareholders, while its staff will raise their ownership in the business as part of the proposed agreement.

Sycomore would also retain its operational independence if the deal materialises, the companies said.

Generali group CIO and CEO of asset and wealth management said: “Today’s announcement is an acceleration of the execution of our asset management strategy: by partnering with Sycomore, we will be able to enrich our offer with innovative investment solutions targeted to our insurance and individual clients, and to strengthen our focus and capabilities on sustainability and responsible investments.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Any future agreement would be subject to regulatory nod and approval from Sycomore workers’ council.

Sycomore founding partner and CEO Emeric Préaubert said: “Demand for Socially Responsible Investment solutions is rising as investor awareness and appetite increase.

“Generali’s multi-boutique platform will enable us to capitalise on the significant opportunities that this offers, while also allowing us to retain the unique cultural attributes which have supported our success to date.”