New York and Milan – Generali Investments, a leading global investment management firm and part of the Generali Group, and MGG Investment Group (“MGG”), a U.S. private direct lending investment firm with over $6.5 billion in assets under management which was launched in 2014 by Kevin Griffin and McCourt Global, today announced Generali Investments’ wholly-owned subsidiary, Conning & Company, completed its acquisition of a 77% stake in MGG and its affiliates.
“We continue to be impressed by the MGG team and are excited to welcome them to our platform,” said Woody Bradford, Chief Executive Officer and General Manager of Generali Investments. “The acquisition of MGG demonstrates our commitment to delivering best-in-class private markets investment solutions to our clients.”
“We are excited to continue to drive superior outcomes for our investors and borrowers while creating enhanced opportunities for our employees as part of Generali Investments,” said Kevin Griffin, Chief Executive Officer and Chief Investment Officer of MGG. “For over a decade, MGG has differentiated itself through our dynamic, proprietary sourcing capabilities, flexible capital, and independent thinking, and these principles will remain core to our approach as we embark on this next chapter.”
The estimated impact on the Generali Group’s Solvency II Ratio is approximately -2 percentage points.
To view the original release, visit the Generali website here.