Amundi and ICG, one of Europe’s leading private markets asset managers, signed a long-term strategic and equity partnership in November 2025. This partnership was finalized with Amundi’s acquisition of a 9.9% economic stake in ICG[1], representing a total investment of approximately €620 million. Starting from Q3 2026, Amundi’s assets under management, net flows and financial results will reflect the contribution related to its 9.9% economic interest in ICG.
This is an important milestone in the partnership between the two groups, which further strengthens Amundi’s position in private markets.
An equity investment to accelerate growth in private markets
As part of the partnership, Amundi and ICG have entered into a 10-year agreement under which Amundi acts as the exclusive global[2] distributor in the wealth channel for ICG’s evergreen and certain other products.
ICG is in turn Amundi’s exclusive provider for those products to Amundi’s distribution business.
The partnership includes the joint development of new products specifically targeted at wealth investors. The first of these products, focused on private equity secondaries, is expected to be launched in the coming weeks.
Our partnership with ICG marks a significant step in the development of Amundi’s private markets offering. Leveraging ICG’s leading capabilities and Amundi’s global reach and strong understanding of individual clients’ needs, we will continue to broaden access to private market solutions for wealth investors globally. This partnership creates a strong platform for innovation with the ambition to develop new products tailored to investors’ evolving needs, while generating profitable, long-term growth for the benefit of all stakeholders.
We are delighted that Amundi has now acquired a 9.9% economic stake in ICG in line with the long-term strategic partnership announced in November 2025. Our teams are working closely on a number of products that are appropriate to the wealth market, and we are looking forward to launching the first of these in the coming weeks: an evergreen fund giving access to our LP Secondaries investment strategy. This is just the first step in realising the commercial benefits of our partnership that combines ICG’s leading investment capabilities and Amundi’s expertise in the wealth and pensions market, and we are already seeing a number of opportunities to deepen our collaboration over the longer-term.
[1] Including 4.9% voting rights.
[2] Excluding the United States, Australia, and New Zealand.
