September 6, 2018 / 3:57 PM / a year ago

Italy's Generali in talks to buy French asset manager Sycomore

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

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