Assicurazioni Generali SpA and BPCE have reached a preliminary deal to combine their investment units and create Europe’s second-largest asset manager amid a deal wave in the industry.
The two firms signed a non-binding memorandum of understanding for a joint venture between Generali Investments Holding and Natixis Investment Managers, they said in a statement Tuesday. BPCE and Generali are set to own 50% each in the entity, which w