Amundi Acquires Stake in ICG for Private Markets Expansion

Amundi, the leading European asset manager, has completed a significant strategic partnership with ICG, a global alternative asset manager. On September 17, 2026, Amundi acquired a 9.9% economic stake in ICG, representing an investment of approximately €620 million. This partnership is part of a long-term agreement that will further strengthen Amundi’s position in the private markets sector.

Under the terms of the agreement, Amundi will act as the exclusive global distributor in the wealth channel for ICG’s evergreen and certain other products, excluding the United States, Australia, and New Zealand. In return, ICG will be Amundi’s exclusive provider for these products to Amundi’s distribution business. The partnership also includes the joint development of new products specifically targeted at wealth investors. The first of these products, an evergreen fund focused on private equity secondaries, is expected to be launched in the coming weeks.

Valérie Baudson, CEO of Amundi, commented, "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."

Benoît Durteste, CEO and Chief Investment Officer of ICG, added, "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."

Amundi, a subsidiary of the Crédit Agricole group and listed on the stock exchange, currently manages close to €2.6 trillion of assets. Its six international investment hubs, financial and extra-financial research capabilities, and long-standing commitment to responsible investment make Amundi a leading player in the international asset management landscape. With its strong local presence, particularly in Europe and Asia, Amundi offers its clients the expertise and advice of 5,400 professionals across 34 countries.

ICG, listed on the London Stock Exchange, manages $126 billion in assets and has over three decades of experience generating attractive returns. Operating from over 20 locations globally, ICG invests its clients' capital across various asset classes, including structured capital, private equity secondaries, private debt, credit, and real assets. The partnership aims to leverage the strengths of both companies to create innovative products and solutions for wealth investors.

The partnership is expected to enhance both companies' capabilities in the private markets sector, providing a broader range of investment options for wealth investors. Amundi and ICG are committed to continuing their collaboration to develop new products and strategies that meet the evolving needs of investors in the global market.