MILAN (Reuters) - Italy’s biggest insurer Assicurazioni Generali said on Thursday it was in exclusive talks to buy the majority of French investment firm Sycomore and develop a partnership in line with its multi-boutique strategy in asset management.
Paris-based Sycomore has more than 8.3 billion euros ($9.6 billion) in assets under management and is a pioneer in socially-responsible investments, Generali said in a statement.
Sycomore would become part of Generali’s multi-boutique platform coordinated by Generali Investments Partners, the insurer said, adding Sycomore’s founders would remain significant shareholders and its employees increase their ownership.
($1 = 0.8608 euros)
Reporting by Valentina Za, editing by Steve Scherer