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Laxman Pai, Opalesque Asia:

Italy financial giant Assicurazioni Generali has entered into an exclusive negotiations with the shareholders of Sycomore Asset Management to acquire a majority stake in the company and enter into a strategic partnership.

With over EUR8.3bn ($9.6bn) in assets under management, Sycomore Asset Management is a key independent asset manager and a pioneer in the Social and Governance (ESG) / Socially Responsible Investment (SRI) segment in France, which is Europe's largest market for ESG / SRI investment solutions, said a press release from the Italian insurance company.

The proposed investment is a new milestone in Generali's multi-boutique strategy in asset management and underscores Generali's commitment to Environmental, ESG and SRI topics, it added.

"Sycomore would be part of the Generali multi-boutique platform coordinated by Generali Investments Partners, and would be instrumental in its objective to become the number one multi-boutique platform in Europe," said the release.

While the Generali group would own the economic majority of Sycomore, Sycomore's founders would remain significant shareholders and its employees would increase their ownership. The Sycomore team would continue to run the strategy and operations of the firm independently, with the same entrepreneurial mindset that has driven innovation and performance since its foundation in 2001.

The strategic partnership builds on the existing business relations......................

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