Amundi acquires 9.9% stake in ICG

Amundi has acquired a 9.9 per cent stake in private equity investment firm ICG, representing a total investment of around £532m.

The investment is in accordance with the long-term strategic and equity partnership announced by the firms in November 2025.

The firms described the agreement as an important milestone in the partnership between the two groups, which aims to strengthen Amundi’s position in private markets.

Amundi and ICG have entered into a 10-year agreement whereby Amundi acts as the exclusive global distributor in the wealth channel for ICG’s evergreen and certain 'other' products.

Additionally, ICG acts as Amundi’s exclusive provider for those products to Amundi’s distribution business.

The partnership also includes the joint development of new products targeted at wealth investors.

The first of these products will focus on private equity secondaries and 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,” commented Amundi chief executive officer, Valérie Baudson.

“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."

ICG chief executive officer and chief investment officer, Benoît Durteste, “We are delighted that Amundi has now acquired a 9.9 per cent 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.”

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