ThreeSixty Investments, the Italian fund house launched by Generali in partnership with other investment managers, has received Bank of Italy's regulatory approval to operate as an asset manager (Società di Gestione del Risparmio) under Italian law.
The new venture is a strategic partnership between Generali, which will hold a majority stake, and several professional investment managers, including former CEO of Pioneer Investments Giordano Lombardo.
Together with Lombardo, who is the company's chief executive officer and co-chief investment officer, the other founders of the company are Mauro Ratto, co-chief investment officer, Diego Franzin, senior portfolio manager and head of Portfolio Strategies and Robert Richardson, chief operating officer, all experienced executives in the asset management sector, with a proven track record in business and investment development. ThreeSixty has continued to build its investment team, with the recent hiring of Marco Mencini, senior equity portfolio manager.
After obtaining regulatory approval, we are focused on the operational set up to launch our first multi-asset fund. The partnership with Generali Group, with its long-term commitment, is ideal to develop this new approach to multi-asset investing focused on outcomes.”
The new boutique, headquartered in Milan, will focus on multi-asset strategies for private and institutional clients around the world and will run its strategy and operations independently.
The launch of the first fund of the new boutique is expected in the first semester of 2020, pending the regulatory product approvals.
The company will be part of Generali Group's multi-boutique asset management ecosystem, combining traditional investment strategies with alternative, cutting-edge solutions developed by specialized and autonomous firms.
The Generali Group holds the majority stake in each boutique through Generali Investments Holding SpA and is co-investing in their products and solutions to take advantage of the potential resulting from the talents and excellence inherent in these boutiques.
In onboarding new boutiques, Generali looks at specialised and distinctive capabilities in both real assets (Real Estate, Infrastructure, Private Equity and Private Debt) and high-conviction segments, fully leveraging both the partners' expertise and entrepreneurial mindset and Generali Group's scale and global reach, said the company in a statement.
Through this business model, Generali Group aims to become one of the top five multi-boutique asset managers in the world in terms of profits.
Tim Ryan, Generali Group CIO said: "We are very proud of today's announcement, as ThreeSixty Investments will further enhance our offering with distinctive multi-asset capabilities. Leveraging the proven expertise and deep market knowledge of its founders and management team, we will be able to provide our clients with new innovative solutions aimed at meeting their return goals".
Giordano Lombardo, CEO of ThreeSixty Investments, said: "We believe that the investment environment for the coming years requires a completely new approach. The aim is to employ our clients' capital for only the best investment opportunities, without relying on traditional financial market benchmarks. With a long-term investment horizon and a careful approach to avoiding capital deterioration risk, we will be unfettered by traditional benchmark investing to focus only on the outcome for our clients.
"After obtaining regulatory approval, we are focused on the operational set up to launch our first multi-asset fund. The partnership with Generali Group, with its long-term commitment, is ideal to develop this new approach to multi-asset investing focused on outcomes."