AM Generali Finanz to create Euro 1.5bn global private equity portfolio

AMB Generali, Germany’s third largest insurance group with approximately Euro 47bn under management, has indicated that it is planning to build up a Euro 1.5bn global private equity portfolio within five years. This news follows a 12 month due diligence process during which the company made contact with a number of fund managers both in Europe and the USA. Given that it has to date made only very limited fund commitments and has no experience of direct investments, fund-of-funds commitments are expected to be the basis for the group’s initial exposure to the asset class. Although the investment focus is understood to be on buyouts rather than venture funds, any fund-of-funds with a high exposure to venture vehicles will be considered, although with a high degree of caution.

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