Generali unit to acquire majority stake in MGG Investment

Written by Adam Cadle

20/01/2025

Generali Investments and MGG Investment Group have agreed for Generali Investments’ subsidiary, Conning & Company, to acquire a majority stake in MGG and its affiliates.

Under the terms of the agreement, Conning & Company will purchase 77% of MGG for $320m at closing, with additional payments based on operating milestones. MGG's current shareholders, including its management team and McCourt Global, will retain a minority stake.

The transaction is expected to close this year, subject to regulatory approvals.

“Acquiring MGG accelerates Generali Investments’ strategic build-out of our private credit capabilities to meet the evolving needs of our clients,” said Woody Bradford, chief executive and general manager of Generali Investments, a global investment management firm that is part of Italy’s Generali Group.

“MGG’s approach complements our existing offerings and positions us better to help clients achieve their direct lending investment objectives.”

MGG will continue under the leadership of CEO and CIO Kevin Griffin, who emphasized the benefits of the partnership.

The deal is expected to have a -2 percentage point impact on the Generali group’s Solvency II ratio.

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