Core Insights - ICG and Amundi have formed a long-term strategic partnership aimed at developing private market products targeted at wealth investors, leveraging ICG's investment expertise and Amundi's distribution capabilities [1][2][4] Partnership Details - The initial focus will be on creating two European evergreen funds in private equity secondaries and private debt, with plans to expand the range of investment strategies over time [2] - Amundi intends to acquire a 9.9% non-dilutive economic interest in ICG, reinforcing the strategic alignment of the partnership [3][11] - The partnership includes a Master Commercial Agreement with an initial term of 10 years, allowing for a rolling 5-year renewal [10][29] Strategic Goals - The collaboration aims to enhance ICG's access to the wealth channel, complementing its existing institutional offerings [3][4] - Amundi will act as the exclusive global distributor for ICG's evergreen and certain other products, while ICG will provide these products to Amundi's distribution business [5][6] Market Positioning - This partnership aligns with Amundi's strategic priorities to strengthen its leadership in the private assets market, catering to the growing demand for diversification and long-term savings among wealth investors [7][8] - The partnership is expected to drive significant growth in assets under management for ICG, benefiting shareholders [2][8] Governance and Shareholding - Amundi will have the right to nominate a non-executive director to ICG's Board, subject to certain conditions [26] - The structure of the shareholding includes provisions to ensure that Amundi's stake does not dilute existing shareholders, including a share buyback of approximately 5.26% of ICG's issued share capital [15][18] Company Background - ICG is a global alternative asset manager with $124 billion in assets under management, specializing in various investment strategies [32] - Amundi is a leading European asset manager, managing over €2.3 trillion in assets, and aims to provide a comprehensive range of investment solutions [34]