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Alternative Market Briefing

Generali Group acquires Bank of America Merrill Lynch's Alternative Ucits platform CM Investment Solutions

Thursday, December 06, 2018

Laxman Pai, Opalesque Asia:

Italian insurer Generali Group has acquired CM Investment Solutions Limited (CMISL), an alternative asset manager in London, from Bank of America Merrill Lynch.

This deal is the latest in a string of acquisitions by Generali as it seeks to become a large multi-boutique asset manager. The Italian group recently outlined three-year plan to develop its European business, including asset management.

The acquired business has $11bn of assets under management and focuses on alternative Ucits - undertakings for the collective investment of transferable securities - strategies, the Milan-based asset manager and insurance provider said.

CMISL will operate autonomously, the company said. Financial details of the deal weren't disclosed.

"This acquisition marks an acceleration in the execution of Generali's asset management strategy, which targets an expansion into alternative strategies and growth outside of Europe," Generali said.

The Italian insurance giant plans to build one of world's top five multi-boutique platforms by profit in the next five years.

CM Investment Solutions chief executive Philippe Lopategui said: "This partnership will enable CMISL to invest in infrastructure and resources, further attract the very best investment managers in the liquid and illiquid alternatives space and deliver tailor made investment solutions to our investors."

Over the last 10 years, the search for uncorrelated positive absolut......................

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