ICG and Amundi form strategic partnership for wealth investors

Investing.com -- ICG plc and Amundi announced Tuesday a long-term strategic partnership to develop private markets products for wealth investors, with Amundi planning to acquire a 9.9% non-dilutive economic interest in ICG.

The 10-year partnership will initially focus on creating two European evergreen funds in private equity secondaries and private debt, with plans to expand their investment strategies for wealth investors over time.

Under the agreement, Amundi will serve as the exclusive global distributor in the wealth channel for ICG’s evergreen and certain other products, while ICG will be Amundi’s exclusive provider for those products to Amundi’s distribution business.

To strengthen their alignment, Amundi intends to acquire a 9.9% economic interest in ICG by June 30, 2027. This will include approximately 4.64% in ordinary shares and 5.26% in non-voting shares.

The structure ensures Amundi’s investment won’t dilute existing ICG shareholders.

Benoît Durteste, CEO and CIO of ICG, said the partnership "materially accelerates our ability to access and shape the evolving wealth channels for private markets."

Valérie Baudson, CEO of Amundi, noted the partnership aligns with Amundi’s strategic priorities and "opens very promising new opportunities for both parties."

The partnership combines ICG’s investment expertise with Amundi’s distribution network and structuring capabilities. Amundi will also gain the right to nominate a non-executive director to ICG’s Board once certain conditions are met.

ICG is being advised by Latham & Watkins, Fenchurch Advisory Partners, and Deutsche Numis, while Amundi’s advisors include Cleary Gottlieb Steen & Hamilton, PJT Partners, and Morgan Stanley.

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