Generali debuts with €1bn infrastructure debt platform
Generali has launched Generali Global Infrastructure (GGI), a infrastructure debt platform starting with an initial global infrastructure debt fund of at least €1bn from Generali
In the newly multi-boutique model, Generali Global Infrastructure will invest in infrastructure debt with a broad geographical and sectoral remit, developing a range of products for internal and external clients.
GGI, managed by the newly-founded entity Generali Investment Partners, follows an invest philosophy that adopts a rigorous investment selection approach both from a credit quality and ESG criteria perspectives.
Generali owns a majority stake in GGI while the infrastructure financiers Philippe Benaroya, Alban de La Selle and Gilles Lengaigne are the other partners of the joint venture.
Generali said external institutional investor assets under management are expected to amount to €2.5bn within the first five years and then to double in the subsequent five-year period.
Generali Global Infrastructure represents a cornerstone in building the largest European multi-boutique insurance management platform, attracting investment from Generali and institutional investors.
Timothy Ryan, CEO of Generali Asset Management, said: “This is an important step in our journey to enhance Generali’s asset management business and shows that we are fully committed to the potential of our business plan that targets an additional contribution to the Group’s net profit of approximately €150 million by 2020.”
Carlo Trabattoni, head of Generali Investment Partners, said: “With this joint venture, we are laying the first building block of our unique multi-boutique platform, bringing together existing and new, highly-specialized investment skills. We see great potential and have strong ambitions for Generali Investment Partners.”
Philippe Benaroya stated: “Our team couldn’t be happier to have joined forces with such a strong global player as Generali, one of the world’s largest insurance groups. We are honoured to be the first platform of their multi-boutique strategy. This partnership will allow Generali Global Infrastructure to grow quickly with access both to Generali’s and institutional investors’ capital.”
Infrastructure investments in Europe accounted for $177bn (€144.18bn) in 2017, and estimated infrastructure investment across the globe is projected at some $49trn (€39.90trn) by 2030.