Amundi and ICG have announced a long-term strategic and equity partnership to develop and distribute products that give wealth investors access to differentiated private markets strategies.

The partnership includes a 10-year agreement under which Amundi will be the exclusive global distributer in the wealth channel for ICG’s evergreen and certain other products, with ICG acting as Amundi’s exclusive provider for those products to Amundi’s distribution business.

The firms will also jointly develop new products targeted at wealth investors, and Amundi will acquire a 9.9 per cent economic stake in ICG, becoming a strategic shareholder “in a manner that is non-dilutive to existing ICG shareholders”.

Through the partnership, Amundi will have access to ICG’s investment expertise and performance track record to accelerate its distribution of private assets, while ICG will benefit from Amundi’s international distribution capacity in the wealth channel and its structuring capability in designing investment solutions for wealth clients.

Over 200 million individual investors in Amundi’s distribution network will have access to several ICG private markets strategies through products aimed at wealth management and retirement planning.

In the first half of 2026, Amundi and ICG will initially focus on developing two European evergreen funds – a private equity secondaries fund and a private debt fund.

Both firms also committed to developing a wider range of investment strategies and products suitable for wealth investors.

The partnership will enable Amundi to offer Crédit Agricole Assurances opportunities to diversify and expand its allocation to private assets, notably in private debt.

“This partnership with ICG, a recognised and diversified leader in private markets, represents a remarkable opportunity to offer our distributor clients and the entities and clients of the Crédit Agricole group access to high-performing strategies with proven track records historically reserved for institutional investors,” said Amundi chief executive officer, Valérie Baudson.

“It fully aligns with Amundi’s strategic plan priorities, which aim to strengthen our leadership by expanding our offerings in promising segments supported by long-term trends. This is the case for the private assets market, whose opening to wealth investors meets their growing needs for diversification and long-term savings accumulation for retirement.

“This partnership opens very promising new opportunities for both parties and is expected to be a driver of profitable and sustainable growth for the benefit of all our stakeholders.”

ICG chief executive officer and chief investment officer, Benoît Durteste, added: “Our long-term strategic partnership with Amundi is a meaningful step forward in the development of ICG’s strategy to access the wealth channel in a way that is clearly additive and complementary to our strong existing institutional offering.

“The combination of ICG’s investment expertise and entrepreneurial mindset with Amundi’s structuring capability and extensive distribution network creates a differentiated partnership with substantial potential, and materially accelerates our ability to access and shape the evolving wealth channels for private markets.

“At the heart of this relationship is a shared philosophy that investment returns remain core to our long-term success. We are proud of our reputation for an unwavering focus on delivering superior investment performance, and we are excited to work with Amundi to develop more products and strategies that are well-suited to the important and growing wealth market for private investments.”

---