Amundi acquires 4.6% stake in ICG

AMUN.PA +0.92%

Amundi has acquired a 4.6% stake in private equity investment firm ICG and entered a long-term partnership to expand private markets access for wealth clients.

The Amundi-ICG partnership includes a ten-year agreement, joint product development, and a minority equity investment by Amundi in ICG.

Under the agreement, Amundi will serve as the exclusive global distributor in the wealth channel for ICG’s everg7reen and select other products.

ICG will serve as Amundi’s exclusive provider for these products within Amundi’s distribution business.

The partnership also includes plans for the joint development of new products specifically targeted at wealth investors.

Amundi will acquire a 9.9% economic stake in ICG, including 5% in non-voting shares. This investment is non-dilutive to ICG’s existing shareholders and positions Amundi as a strategic shareholder.

The company will also nominate a non-executive director to ICG’s Board, granting it participation in the group’s strategic decisions.

Amundi CEO Valérie Baudson said: “This partnership with ICG, a recognised and diversified leader in private markets, represents a remarkable opportunity to offer our distributor clients and the entities and clients of the Crédit Agricole group access to high-performing strategies with proven track records historically reserved for institutional investors.

“It fully aligns with Amundi’s strategic plan priorities, which aim to strengthen our leadership by expanding our offerings in promising segments supported by long-term trends.

“This is the case for the private assets market, whose opening to wealth investors meets their growing needs for diversification and long-term savings accumulation for retirement.

“This partnership opens very promising new opportunities for both parties and is expected to be a driver of profitable and sustainable growth for the benefit of all our stakeholders.”

ICG manages almost €108bn ($125bn) of assets, primarily for institutional clients, across structured capital, private equity secondaries, private debt, credit, and real assets.

Amundi’s private markets platform currently manages €70bn, mainly in real estate and multi-management activities, a portfolio strengthened by the 2024 acquisition of Alpha Associates.

The partnership is expected to allow more than 200 million individual investors, served by Amundi’s global distribution network, to access ICG’s private markets strategies.

During the first half of 2026, Amundi and ICG will focus on launching two European evergreen funds, a private equity secondaries fund and a private debt fund.

The collaboration will allow Amundi to offer Crédit Agricole Assurances opportunities to diversify and expand its allocation to private assets, particularly in private debt.

Furthermore, the partnership is expected to deliver significant value for stakeholders of both firms and reinforce their strategic ambitions in private markets.

ICG CEO and chief investment officer Benoît Durteste said: “Our long-term strategic partnership with Amundi is a meaningful step forward in the development of ICG’s strategy to access the Wealth channel in a way that is clearly additive and complementary to our strong existing institutional offering.

“The combination of ICG’s investment expertise and entrepreneurial mindset with Amundi’s structuring capability and extensive distribution network creates a differentiated partnership with substantial potential, and materially accelerates our ability to access and shape the evolving wealth channels for private markets.

“We are proud of our reputation for an unwavering focus on delivering superior investment performance, and we are excited to work with Amundi to develop more products and strategies that are well-suited to the important and growing wealth market for private investments.”

Last year, Amundi acquired Aixigo, a German software solutions provider for financial institutions, in a €149m ($157m) deal.

"Amundi acquires 4.6% stake in ICG " was originally created and published by Private Banker International, a GlobalData owned brand.

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