Italian insurance coverage firm Generali has concluded the acquisition of Conning Holdings and its associates from Cathay Monetary Holdings’ subsidiary Cathay Life Insurance coverage.
The transaction contains Conning, an organization specialising in insurance coverage and institutional mounted revenue, together with its associates – Octagon Credit score Buyers, primarily specializing in financial institution loans, CLOs and specialty credit score; World Evolution, dealing in markets debt; and Pearlmark, dealing in debt/fairness actual property.
Collectively, these entities type a key funding administration firm with specialisation in dealing with institutional and insurance coverage shoppers.
The acquisition, introduced in July 2023, considerably enhances Generali’s asset administration capabilities and expands its world footprint, notably within the US and Asia.
With the completion of this deal, all Conning shares have been built-in into Generali Investments Holding (GIH), which encompasses the vast majority of Generali’s asset administration actions, in change for the newly issued shares.
Cathay Life will now perform as a minority shareholder of GIH, with a 16.75% stake, cementing a long-term asset administration partnership with Generali.
Entry essentially the most complete Firm Profiles
in the marketplace, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain electronic mail will arrive shortly
We’re assured concerning the
distinctive
high quality of our Firm Profiles. Nonetheless, we would like you to take advantage of
helpful
resolution for your small business, so we provide a free pattern that you would be able to obtain by
submitting the under type
By GlobalData
Conning and its associates are set to proceed their progress methods, now with the backing of each their persevering with proprietor, Cathay Life Insurance coverage, and their new proprietor, Generali.
Cathay Life has additionally dedicated to a minimal ten-year monetary funding pertaining to particular insurance coverage property managed by GIH on its behalf.
This transfer has elevated Generali Group’s whole AUM to round $887bn as of 31 December 2023.
The acquisition aligns with Generali’s Lifetime Companion 24: Driving Development strategic plan, which goals to fortify its world asset administration enterprise by enhancing funding capabilities, increasing third-party shopper companies and rising its geographical presence.
Generali Asset & Wealth Administration CEO Carlo Trabattoni mentioned: “The acquisition of Conning and its associates permits us to proceed the profitable growth of a worldwide and diversified asset administration ecosystem. We’ve strengthened our capabilities with related high-quality funding abilities in US and rising market mounted revenue, different credit score and US actual property.
“Generali is establishing a preeminent world asset administration agency, now one of many ten largest asset managers in Europe, recognised for delivering constant funding returns and establishing enduring and trusted relationships with our shoppers.”
