In brief: BPCE and Generali partner to create the largest asset manager in Europe

BPCE and Generali announced their plan to create a European leader in asset management, which would also become the world's ninth largest player with €1,900 billion in assets under management. This joint venture, owned equally by the two groups, aims to combine their expertise to meet the growing needs of investors and strengthen their presence in international markets.

The new entity will be strategically located in Amsterdam, with operating subsidiaries in France, Italy and the United States.

It will benefit from a balanced governance, with a shared presidency between the two groups and a general direction structured to reflect the strategic alliance. This organisation aims to ensure smooth and efficient management, combining the complementary expertise of both partners.

A strategic alliance for global leadership in asset management:

Generali is committed to investing €15 billion over five years, a strategic initiative aimed at developing new investment strategies and expanding the supply of products, particularly in private assets.

The combined platform aims to strengthen its positions in Europe, North America and Asia. It will build on a global distribution network and offer a full range of investment solutions tailored to customer needs.

Valued at EUR 9.5 billion, this operation is expected to be finalized in early 2026, subject to regulatory authorisations.

Together, BPCE and Generali aim to build a leading player capable of meeting investors' expectations while supporting the real economy.

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