BPCE and Generali are forming a 50-50 joint venture to create Europe's largest asset manager, managing approximately €1.9 trillion in assets.

Target Information

Assicurazioni Generali S.p.A. ("Generali") and BPCE have signed a non-binding Memorandum of Understanding (MoU) to combine their asset management operations, Generali Investments Holding ("GIH") and Natixis Investment Managers ("Natixis IM"). This joint venture will establish one of the largest asset management firms globally, managing approximately €1.9 trillion in assets and ranking as the ninth-largest worldwide by assets under management (AUM). Both parties will maintain equal ownership and control, ensuring balanced governance.

Industry Overview in Italy

The asset management industry in Italy is characterized by competitive dynamics and growth potential, with a strong emphasis on adapting to evolving investor needs. Italy's market is bolstered by a history of solid institutional investment and a large retail investment base, driving demand for diversified asset management solutions. As the market matures, firms are increasingly focusing on innovative financial products and services to cater to diverse client segments.

Additionally, Italy's asset management landscape has seen increased regulation, prompting firms to enhance transparency and adhere to stringent compliance measures. The landsca