Amundi acquires 10% stake in ICG for €620M as part of strategic partnership

Amundi just wrote a €620 million check to buy a 9.9% economic stake in ICG, the UK-based alternative asset manager with roughly $126 billion in assets under management. The deal, finalized on September 17, 2026, caps off an equity acquisition that was first announced back in November 2025. That €620 million price tag translates to approximately $711 million, giving Amundi 4.9% of ICG’s voting rights and a seat on the company’s board. But the equity stake is really just the down payment on something much larger: a 10-year exclusive distribution agreement that could reshape how wealthy investors across most of the globe access private market products. What the partnership actually looks like Under the 10-year arrangement, Amundi gains exclusive rights to distribute ICG’s evergreen funds and other selected products to wealth and private banking clients worldwide, with the US, Australia, and New Zealand carved out of the territory. The first tangible product from this collaboration, an evergreen fund focused on private equity secondaries, is expected to launch in the coming weeks. For those unfamiliar, secondaries involve buying existing stakes in private equity funds from other invest...