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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Generali Ass | BIT:G | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.25 | 1.10% | 23.02 | 23.01 | 23.03 | 23.07 | 22.83 | 22.88 | 1,091,702 | 11:28:31 |
By Marc Bisbal Arias
Assicurazioni Generali SpA (G.MI) said Tuesday that it has launched Generali Global Infrastructure, an infrastructure debt investment platform.
The GGI platform will start off with an initial global infrastructure debt fund of at least 1 billion euros ($1.23 billion) coming from Generali. GGI will be used to "develop infrastructure debt investment strategies both for internal and external clients," the Italian insurer said.
Generali will serve as a strategic partner in the joint venture with a controlling stake. Philippe Benaroya, Alban de La Selle and Gilles Lengaigne will also be partners.
Within the first five years, assets under management from external institutional investors are expected to total EUR2.5 billion, before doubling in the next five-year period, the company said.
GGI will be managed by Generali Investment Partners and invest in infrastructure debt across a range of geographies and sectors.
McKinsey & Co. estimates that total worldwide investment in infrastructure will reach approximately $49 trillion by 2030, Generali said.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
March 20, 2018 10:28 ET (14:28 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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