Generali: to take control of French Sycomore AM
(CercleFinance.com) - Generali yesterday confirmed information in press over the past few days: the Italian insurer has entered into exclusive negotiations with the Parisian asset manager Sycomore Asset Management (AM) in order to take control of its capital and enter into a "strategic partnership".
The financial terms of the transaction were not specified.
The idea would be to integrate the target into the platform coordinated by the Generali Investments Partners division, while leaving its founders and employees with a minority stake and autonomy of decision.
Founded in 2001, Sycomore AM manages over 8.3 billion euros in assets and has a strong presence in the socially responsible investment (SRI) segment, which is worth 23 trillion dollars worldwide, including 12 trillion dollars in Europe.
The transaction remains subject to the approval by regulatory authorities, including the French AMF.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The financial terms of the transaction were not specified.
The idea would be to integrate the target into the platform coordinated by the Generali Investments Partners division, while leaving its founders and employees with a minority stake and autonomy of decision.
Founded in 2001, Sycomore AM manages over 8.3 billion euros in assets and has a strong presence in the socially responsible investment (SRI) segment, which is worth 23 trillion dollars worldwide, including 12 trillion dollars in Europe.
The transaction remains subject to the approval by regulatory authorities, including the French AMF.
Copyright (c) 2018 CercleFinance.com. All rights reserved.