Generali and BPCE to create major asset manager

Generali and the BPCE Group have signed a non-binding Memorandum of Understanding to create a joint venture between their respective asset management subsidiaries Generali Investments Holding (GIH) and Natixis Investment Managers (Natixis IM).

Natixis IM, and GIH will each hold a 50% stake in the joint venture, with equal governance and control rights.

Together, Natixis IM and GIH will have assets under management (AUM) amounting to 1 900 billion EUR (1 965 billion USD) and 4.1 billion EUR (4.2 billion USD) in revenues.

The transaction will give rise to the world's 9th largest player in terms of AUM and Europe's leading asset manager in terms of revenues.

Pending customary approvals, the deal is expected to close in early 2026.