Amundi in Strategic Partnership With ICG

Cleary Gottlieb is representing Amundi S.A. (Amundi) in its long-term strategic partnership with ICG plc (ICG) to develop private markets products managed by ICG and distributed by Amundi targeted at wealth investors.

The parties will initially focus on developing two European evergreen funds, in private equity secondaries and private debt, and are committed over time to broadening their range of investment strategies and products appropriate for wealth investors.

To reinforce the partnership, Amundi intends to acquire a 9.9% shareholding in ICG comprising a mix of ordinary shares acquired on the secondary market through a structured transaction and non-voting shares issued by ICG as part of a non-dilutive structure involving a simultaneous share buyback by ICG. Amundi and ICG have entered into a relationship agreement that gives Amundi the right to nominate a director to the board of ICG, subject to certain conditions.

Amundi is a leading European asset manager. A subsidiary of the Crédit Agricole Group and listed on Euronext Paris, Amundi currently manages more than €2.3 trillion of assets.

ICG is a global alternative asset manager with $124 billion in assets under management across structured capital, private equity secondaries, private debt, credit, and real assets. ICG is listed on the London Stock Exchange and is a constituent of the FTSE 100.

For more information, please see the press release.

The Cleary M&A and corporate team includes partners Pierre-Yves Chabert, Nick Rumsby, Sophie de Beer, and Dan Tierney, and associates Julian Ried, Camille Delaisse, Stephanie Schiller, and Bori Ahn. Partners Jim Ho and Valérie Lemaitre, and associates Pritika Advani, Bilal Boudouda, and Julie Jacquemoud are advising on the structured finance transaction to facilitate the stake building. Partners Derek Bush and Ferdisha Snagg, and associate Noah D’Aeth are advising on financial regulatory matters. Partners Paul Gilbert, Chase Kaniecki, Julian Sanner, and John Messent, and associates B.J. Altvater, Hendrik Wendland, and Matthew Day are advising on global antitrust and FDI matters. Partners Anne-Sophie Coustel and Richard Sultman, and associates Iarlaith McCarthy Hann and Mathilde Philippe are advising on tax matters.