De Brauw advised Assicurazioni Generali SpA, a leading global integrated insurer and asset manager, on the combination of its asset management operations with Natixis Investment Managers, part of Groupe BPCE, a leading French banking group. The deal is valued at EUR 9.5 billion.

The combined asset management activities will be held in a 50/50 Dutch joint venture, and will form a major global asset manager with EUR 1.9 trillion in assets under management and EUR 4.1 billion in annual revenues, making it the largest asset manager in Europe by revenues. The 50/50 co-controlled business will build upon a long-term asset management commitment by BPCE and Generali, underpinned by 15-year contracts.

The deal signifies a transformative transaction and consolidation in the European asset management market, creating a European champion.