Generali: creates new asset management company
(CercleFinance.com) - Generali is creating a new asset management company, in which the Italian insurance giant will initially invest 1 billion euros.
The new unit, called ThreeSixty Investments, will be be headquartered in Milan and will be run by Giordano Lombardo, the former CEO of Pioneer Investments, a unit of UniCredit that was bought by France's Amundi in 2016.
The new venture will run its strategy and operations independently, Generali said.
It will develop multi-asset strategies, with an "innovative" investment process, to serve private and institutional clients around the world, it added.
Generali plans to invest 1 billion euros in ThreeSixty's first fund, as "strategic capital".
Since Generali started to roll out its asset management in 2017, the insurer has created or partnered with 8 boutiques and transformed its existing asset managers into four distinctive platforms.
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