MILAN (ITALPRESS) – Generali Investments, a global asset management company part of Generali Group, and MGG Investment Group (MGG) have signed a definitive agreement under which Conning & Company, the wholly owned subsidiary of Generali Investments, will acquire a majority stake in MGG and its affiliates. “The acquisition of MGG accelerates the strategic development of Generali Investments’ private credit capabilities to meet the evolving investment needs of our clients, including our affiliated insurance companies who will become investors in MGG’s offerings,” said Woody Bradford, Ad and Managing Director of Generali Investments. “MGG’s rigorous credit underwriting process, approach to structuring and deep focus on middle market, non-sponsored loans complement our offerings and better position us to support our clients in achieving their investment goals in direct lending,” he added.MGG will continue to be led by CEO and Cio Kevin Griffin and the existing team, with no changes in investment strategy, processes or day-to-day operations. “Our partnership with Generali represents an exciting new chapter that will support MGG’s future growth and allow us to expand our investment and capital formation capabilities,” Griffin said. “Generali Investments is a world-class wealth management platform with robust strategic resources and a client-focused culture that is aligned with our philosophy and values,” he added. Conning & Company signed a definitive agreement to acquire 77 percent of MGG for $320 million with an additional monetary commitment subject to the achievement of certain operational milestones. Current shareholders, including management of MGG and McCourt Global, will retain a minority stake. The transaction is expected to close in 2025, subject to closing approvals and conditions. The estimated impact on Generali Group’s Solvency II Ratio is about -2 percentage points.(ITALPRESS).-Photo: Woody Bradford, Generali press office-
