Generali Investments Slovenia signed an agreement to transferring the management of Generali Growth Equity Fund to ALFI PE

 

The transaction will not change the Fund’s policy neither will have any impact on the Fund’s investors. The Generali Group remains the Fund’s second largest investor, after the European Investment Fund (EIF). To close the transaction, approvals of the relevant bodies of the Fund and regulatory authorisations must be obtained.

Generali Growth Equity Fund, a private equity fund, invests in small and medium-sized companies with strong growth potential, offering them support for growth financing, capacity expansion, sales network building and new product development as well as the acquisition of competitors and management of succession matters. Its investment portfolio consists of investee companies demonstrating a sustainability focus, a high level of development, keeping up with the latest trends and an extraordinary growth potential.

ALFI PE d.o.o. is a member of ALFI SKLADI, the largest group for alternative investment fund management in Slovenia, incorporating five different alternative funds with more than EUR 400 million of assets under management. ALFI PE d.o.o. also manages the largest private equity fund established in Slovenia, ALFI PE SIS k.d.

 

 

 

Generali Growth Equity Fund was founded in 2019 as part of the Slovene Equity Growth Investment Programme (SEGIP), which was launched upon the initiative of the SID Bank in cooperation with the EIF. It offers equity and quasi-equity financing to Slovenian SMEs and mid-cap companies. The SID Bank committed to contributing EUR 50 million of its own funds to this programme (without state guarantee), and the EIF has provided an additional EUR 50 million under the European Fund for Strategic Investments (with EFSI guarantee). By mobilising additional funding from other private investors through the SEGIP programme, overall investments for Slovenian companies exceeds EUR 150 million, which is 3-times the contribution of the SID Bank.

 

Generali Growth Equity Fund completes the acquisition of a share in Rolnet d.o.o.

 

 

Established in 2004, Rolnet d.o.o operates in the markets of Slovenia, Croatia, Serbia, Bosnia and Herzegovina, Montenegro and Austria. Today, the company is a reliable partner in the sports nutrition industry and one of the leading specialised sellers of sports nutrition, health and wellness products in the region of South-East Europe. It develops and markets sports nutrition products and food supplements, focusing on sales in franchise stores, shopping centres, gyms, via online shops and through other distributors (retailers). The company owns the Proteini.si and Battery Nutrition brands, and has over the years gradually secured distribution and agency for the most established European brands of sports nutrition.

Through the equity investment of Generali Growth Equity Fund, Rolnet will be able to strengthen the further development of its services and their provision in the markets of the region.

Generali Growth Equity Fund is a special investment fund managed by Generali Investments, Slovenia’s oldest management company with subsidiaries in Croatia and North Macedonia. Generali Growth Equity Fund invests in ambitious small and medium-sized companies, offering support for growth financing, capacity expansion, sales network building and new product development as well as the acquisition of competitors and management of succession matters.

 

 

The Generali Growth Equity Fund investment in Rolnet d.o.o. is co-financed by the European Investment Fund and the SID Bank. Generali Growth Equity Fund was founded in 2019 as part of the Slovene Equity Growth Investment Programme (SEGIP), which was launched upon the initiative of the SID Bank in cooperation with the European Investment Fund (EIF). It offers equity and quasi-equity financing to Slovenian SMEs and mid-cap companies. The SID Bank committed to contributing EUR 50 million of its own funds to this programme (without state guarantee), and the EIF has provided an additional EUR 50 million under the European Fund for Strategic Investments (with EFSI guarantee). By mobilising additional funding from other private investors through the SEGIP programme, overall investments for Slovenian companies could exceed EUR 150 million, which is 3-times the contribution of the SID Bank.

 

 

Generali Growth Equity Fund closes the acquisition of a stake in Diverto d.o.o., Zagreb

 

 

Headquartered in Zagreb, Diverto was established in 2007 as a Comprehensive Information Security Provider. Since starting out as a pioneer in this field, it has grown to become one of the leaders within the region.

The company protects clients against security threats that can cause data breaches, financial loss and damaged credibility and is solely focused on information security. It offers a range of information security services, from consultancy to managed services. Its service portfolio consists of governance, risk & compliance, assessments and tests, education and training, incident response, defence services and Security Operations Centre (SOC). The company is the holder of one of the widest range of industry relevant certificates in the region.

The Generali Growth Equity Fund’s equity investment in Diverto will help the company continue its development activities in Cyber Security Solutions and expansion into the wider region.

Generali Growth Equity Fund is a special investment fund managed by Generali Investments, Slovenia’s oldest management company with subsidiaries in Croatia and North Macedonia. Generali Growth Equity Fund invests in ambitious small and medium-sized companies, offering support for growth financing, capacity expansion, sales network building and new product development as well as the acquisition of competitors and management of succession matters.

 

The Generali Growth Equity Fund investment in Diverto d.o.o., is co-financed by the European Investment Fund and the SID Bank. Generali Growth Equity Fund was founded in 2019 as part of the Slovene Equity Growth Investment Programme (SEGIP), which was launched upon the initiative of the SID Bank in cooperation with the European Investment Fund (EIF). It offers equity and quasi-equity financing to Slovenian SMEs and mid-cap companies. The SID Bank committed to contributing EUR 50 million of its own funds to this programme (without state guarantee), and the EIF has provided an additional EUR 50 million under the European Fund for Strategic Investments (with EFSI guarantee). By mobilising additional funding from other private investors through the SEGIP programme, overall investments for Slovenian companies could exceed EUR 150 million, which is 3-times the contribution of the SID Bank.

 

Generali launches the goals of the Net-Zero Insurance Alliance at the G20 Climate Summit in Venice

 

  • Generali is a founding member of the Net-Zero Insurance Alliance, pledging to transition the insurance portfolios to net-zero greenhouse gas emissions by 2050
  • Generali’s commitment is underpinned by its strategy for climate protection, which includes € 8.5 – € 9.5 billion of new green and sustainable investments in the period 2021-2025 and the gradual decarbonization of the direct investment portfolio, to become climate neutral by 2050

 

Eight of the world’s leading insurers and reinsurers — AXA (NZIA Chair), Generali, Allianz, Aviva, Munich Re, SCOR, Swiss Re and Zurich Insurance Group — have made an historic commitment to play their part in accelerating the transition to a global net-zero emission economy. The companies that have established the NZIA, convened by UNEP Finance Initiative’s Principles for Sustainable Insurance, have committed to reduce to zero the net emissions from their insurance and reinsurance underwriting portfolios by 2050, consistent with a global temperature rise of 1.5°C above pre-industrial levels. Each member will individually set science-based intermediate targets every five years and independently report on their progress publicly and annually to contribute to achieving the goals of the Paris Climate Agreement.

This initiative is getting ready to join the UN Race to Zero campaign in order to become officially part of the Glasgow Financial Alliance for Net Zero, which brings together the leading net-zero initiatives across the financial system.

Generali Group CEO Philippe Donnet commented: “Generali wants to actively support a just and inclusive transition to a net-zero emissions economy. The UN-Convened Net-Zero Insurance Alliance allows us to join forces with institutions and peers within our sector who share this common goal of achieving a significant and longer-lasting impact. United we are stronger. I am proud to present this initiative on behalf of the Alliance in the city of Venice in front of leaders from the most important economies in the world. Generali has historic ties with Venice and this year, our 190th anniversary, we will reopen the historic Procuratie Vecchie in St. Mark’s square as it becomes home to The Human Safety Net. We are proud to support the city, the Veneto region and its people in our shared ambition to make Venice the world capital of sustainability.”

In particular, the climate goals recently announced by Generali include the gradual decarbonization of the direct investment portfolio to become climate neutral by 2050, limiting global warming to 1.5°C above pre-industrial levels, consistent with the commitment undertaken as part of the Net-Zero Asset Owner Alliance. As an  intermediate target, Generali will decrease, over 5 years, the carbon emissions for the corporate portfolio (corporate bonds, listed equity) by 25%, in respect to their level in 2019, and will align the real estate portfolio to the 1.5° C pathway.

In addition, the Group intends to make € 8.5 – € 9.5 billion of new green and sustainable investments between 2021 and 2025 and is introducing increasingly restrictive exclusion criteria for the thermal coal sector, towards a complete disposal of investments in these activities.

Over the last three years, Generali made € 6 billion of new green and sustainable investments, which exceeded its strategic target one year in advance. Generali is convinced that the private sector can play a key role in financially supporting the ‘Just Transition’ to create a future with net-zero greenhouse gas emissions by aiding public institutions in taking the necessary actions.

Generali is celebrating 190 years of life with a series of initiatives including the completion of the restoration of the Procuratie Vecchie in Venice, overseen by David Chipperfield Architects, which will be opened to the public for the first time in 500 years. The historic landmark will become the global hub of The Human Safety Net Foundation and will be a new, vibrant space to host regular public exhibitions, events and discussions on pressing social and demographic challenges from poverty to migration. Together with the authorities of Venice, the Veneto Region and with the backing of the Italian government, Generali is committed to supporting the city’s ambition in becoming the world capital of sustainability.

 

THE GENERALI GROUP

Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in 50 countries in the world, with a total premium income of € 70.7 billion in 2020. With more than 72,000 employees serving 65.9 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. Commitment to sustainability is one of the enablers of Generali’s strategy, inspired by the ambition is to be the Lifetime Partner to its customers, offering innovative and personalized solutions thanks to an unmatched distribution network.

 

 

Generali Growth Equity Fund has acquired a share in the company Paradajz, d.o.o., Turnišče

 

 

The company Paradajz d.o.o. is a leader of growing high-quality tomatoes as its core product in indoor facilities, using cutting-edge and environmentally friendly technology – with high value-added, highly qualified human resources, top-notch consultants, and other possibilities offered by Pomurje, one of the most promising regions for specialised agricultural production in Slovenia.

The company is best known for its premium tomato brand, LUŠT. It boasts extensive know-how on integrated production of vegetables in indoor facilities heated by geothermal energy in Slovenia. LUŠT tomatoes are grown in the company’s greenhouses in the Prekmurje village of Renkovci, spreading over 90,000 m2 (9 ha) of glass-covered areas. Next to the greenhouses are a geothermal well and lagoons collecting rainwater used for plant watering. Integrated production of tomatoes is especially important in North-Eastern Slovenia, which has an excellent geographic position in strategic terms. LUŠT tomatoes are always freshly delivered to grocery shelves, which is reflected in their nutrient content, appearance and taste.
The equity investment of Generali Growth Equity Fund in Paradajz, d.o.o. will help the company further develop and expand its integrated tomato production in Slovenia, and develop distribution channels to deliver fresh produce from the greenhouses to final consumers within the shortest time possible. This supports the company’s vision of becoming the leading supplier and producer of vegetables for the largest food retailers in the Slovenian market and an important supplier for food retailers in countries bordering Slovenia.

Generali Growth Equity Fund is a special investment fund managed by Generali Investments, Slovenia’s oldest management company with subsidiaries in Croatia and North Macedonia. Generali Growth Equity Fund invests in ambitious small and medium-sized companies, offering support for growth financing, capacity expansion, sales network building and new product development as well as the acquisition of competitors and management of succession matters.

 

The Generali Growth Equity Fund investment in Paradajz, podjetje za proizvodnjo, trgovino, storitve in distribucijo, d.o.o., is co-financed by the European Investment Fund and the SID Bank. Generali Growth Equity Fund was founded in 2019 as part of the Slovene Equity Growth Investment Programme (SEGIP), which was launched upon the initiative of the SID Bank in cooperation with the European Investment Fund (EIF). It offers equity and quasi-equity financing to Slovenian SMEs and mid-cap companies. The SID Bank committed to contributing EUR 50 million of its own funds to this programme (without state guarantee), and the EIF has provided an additional EUR 50 million under the European Fund for Strategic Investments (with EFSI guarantee). By mobilising additional funding from other private investors through the SEGIP programme, overall investments for Slovenian companies could exceed EUR 150 million, which is 3-times the contribution of the SID Bank.

 

 

Generali Growth Equity Fund has raised EUR 65 million commitments within less than a year

Generali Growth Equity Fund has attracted commitments from a diverse range of investors feeling confident about the Fund’s mission, including major Slovenian and international institutional investors—especially pension and insurance companies—and individuals ranking among qualified professional investors. Generali Growth Equity Fund, a private equity fund, invests in small and medium-sized companies with strong growth potential, offering them support for growth financing, capacity expansion, sales network building and new product development as well as the acquisition of competitors and management of succession matters. Its investment portfolio currently consists of three investee companies, all of which demonstrate a sustainability focus, a high level of technological development, keeping up with the latest trends and an extraordinary growth potential.

 

Luka Podlogar, the President of the Management Board of Generali Investments, says: “We are very pleased to see investors recognising the growth potential and the relevance of the private equity fund industry for SMEs. This is especially true in these insecure times where a stable ownership structure can sustain and support companies in their smooth business development. Despite having great ideas and ambitious teams, many businesses are unable to use their full potential during such challenging times as witnessed today, due to a lack of stable financing. The current state aid schemes and banking solutions are either inappropriate or offer insufficient support for such companies. We are happy to have the backing of our investors and to be able to successfully develop the private equity fund industry in Slovenia, contributing to appropriate financing and an environment favourable for the development and growth of the generator of the Slovenian economy – i.e. small and medium enterprises.”

 

Simon Mastnak, Director of Private Equity, comments: “We are grateful for the strong support provided by our investors, especially in the present unique market environment. Generali Growth Equity Fund was established to help Slovenian business stars on their way to growing into global winners, and the current market situation clearly shows what an invaluable role we are playing. As a responsible co-investor, we wish to work with—which we are already doing—ambitious entrepreneurs desiring to bring their success stories to a higher level. The Fund has successfully completed its first half-year having three high-potential companies in the portfolio, and we are excited about the next chapter.”

 

Generali Growth Equity Fund is a special investment fund managed by Generali Investments, Slovenia’s oldest management company with subsidiaries in Croatia and North Macedonia. At the end of the first half-year of 2020, Generali Investments managed over EUR 1.1 billion of assets (in UCITS funds, alternative investments funds and discretionary mandates) raised from 51,000 private and institutional investors.

 

Generali Growth Equity Fund was founded in 2019 as part of the Slovene Equity Growth Investment Programme (SEGIP), which was launched upon the initiative of the SID Bank in cooperation with the European Investment Fund (EIF). It offers equity and quasi-equity financing to Slovenian SMEs and mid-cap companies. The SID Bank committed to contributing EUR 50 million of its own funds to this programme (without state guarantee), and the EIF has provided an additional EUR 50 million under the European Fund for Strategic Investments (with EFSI guarantee). By mobilising additional funding from other private investors through the SEGIP programme, overall investments for Slovenian companies could exceed EUR 150 million, which is 3-times the contribution of the SID Bank.

Growth Equity Fund in the process of acquiring a share in the company LIT Tranzit d.o.o., Trzin

LIT Tranzit d.o.o. is a global high-tech company with its headquarters in Trzin, Slovenia, and a development centre in Maribor. This innovative business develops and integrates intelligent public transport and mobility solutions. Its products are used in more than 25,000 buses around the globe, directly benefitting more than 5 billion passengers annually on all continents. Its solutions are implemented in cities with the most advanced public transport systems in the world, such as Hong Kong, Singapore, Nagoya and Tel Aviv. LIT Tranzit solutions come in four clusters:

  • a cloud platform for public transport operations management;
  • fare and revenue management solutions for cities and public transport operators;
  • computation and distribution of passenger information and
  • general mobility solutions.

The company’s biggest competitive advantage is a vertically integrated system with accurate and reliable algorithms predicting arrivals in public transport.

 

The Generali Growth Equity Fund’s equity investment in Lit Transit will help the company continue its research and development activities in today’s mobility challenges and environment protection through high-tech software solutions that are an essential contribution to sustainable development.

Generali Growth Equity Fund is a special investment fund managed by Generali Investments, Slovenia’s oldest management company with subsidiaries in Croatia and North Macedonia. Generali Growth Equity Fund invests in ambitious small and medium-sized companies, offering support for growth financing, capacity expansion, sales network building and new product development as well as the acquisition of competitors and management of succession matters.


The Generali Growth Equity Fund investment in LIT TRANZIT, programske rešitve, d.o.o., is co-financed by the European Investment Fund and the SID Bank. Generali Growth Equity Fund was founded in 2019 as part of the Slovene Equity Growth Investment Programme (SEGIP), which was launched upon the initiative of the SID Bank in cooperation with the European Investment Fund (EIF). It offers equity and quasi-equity financing to Slovenian SMEs and mid-cap companies. The SID Bank committed to contributing EUR 50 million of its own funds to this programme (without state guarantee), and the EIF has provided an additional EUR 50 million under the European Fund for Strategic Investments (with EFSI guarantee). By mobilising additional funding from other private investors through the SEGIP programme, overall investments for Slovenian companies could exceed EUR 150 million, which is 3-times the contribution of the SID Bank.

 

 

Generali Growth Equity Fund in the process of acquiring a share in the company Panorganix d.o.o., Ljutomer

 

 

Panorganix d.o.o., a modern agricultural production business, is a pioneer of selling “living” products, that is products with their roots still in the ground and packaged in special biodegradable packaging, representing “a step forward in organic production”. The company’s production processes follow contemporary nutrition trends. The existing range is being constantly expanded with new products, using the latest agricultural production technology that includes the protection of a clean environment.

The Generali Growth Equity Fund’s equity investment in Panorganix will help the company further develop its innovative, high-tech methods of growing the highest quality fruit and vegetables, delivering them to customers full of freshness, flavour and rich in nutritional value. It will also help the business spread its sustainable agriculture, using cutting-edge technology and innovative, nature and environment friendly methods, to the broader region.

Generali Growth Equity Fund is a special investment fund managed by Generali Investments, Slovenia’s oldest management company managing EUR 1,025 million of assets together with its subsidiaries in Croatia and North Macedonia. Generali Growth Equity Fund invests in ambitious small and medium-sized companies, offering support for growth financing, capacity expansion, sales network building and new product development as well as the acquisition of competitors and management of succession matters.

The Generali Growth Equity Fund investment in Panorganix is co-financed by the European Investment Fund and the SID Bank. Generali Growth Equity Fund was founded in 2019 as part of the Slovene Equity Growth Investment Programme (SEGIP), which was launched upon the initiative of the SID Bank in cooperation with the European Investment Fund (EIF). It offers equity and quasi-equity financing to Slovenian SMEs and mid-cap companies. The SID Bank committed to contributing EUR 50 million of its own funds to this programme (without state guarantee), and the EIF has provided an additional EUR 50 million under the European Fund for Strategic Investments (with EFSI guarantee). By mobilising additional funding from other private investors through the SEGIP programme, overall investments for Slovenian companies could exceed EUR 150 million, which is 3-times the contribution of the SID Bank.

 

KD Funds proud to become Generali Investments

 

The name of KD Funds has officially changed to Generali Investments LLC while its brand identity will now be linked to the iconic lion of St. Mark, the symbol of Venice and of the Generali Group.

The existing range of products and services will be maintained and in the future will undergo a process of rebranding and continuous improvement, incorporating the innovations and best practices acquired through the extensive international experience of the Generali Group. The rebranding process will not affect our clients or ongoing business agreements.

Josef Beneš, Chief Investment Officer of Generali CEE Holding B.V. and Chief Executive Officer of Generali Investments CEE, said: “KD funds, becoming Generali Investments, is home to the most renowned and awarded team of local experts and boasts the longest tradition of asset management on the SEE markets. All the current advantages of its value creation capabilities will be amplified by the access to the global know-how and opportunities provided by the Generali Group.”

Luka Podlogar, President of the Management Board of Generali Investments LLC commented: “We combine our excellent asset management performance and unmatched knowledge of our investors’ needs with a truly global platform. In the following period, our team’s purpose is to deliver even better results with the help of innovative, accessible and personalized services.”

The Generali Group has been operating in Slovenia since 1997. In line with its Generali 2021 strategy and its vision to develop in Slovenia and the entire Austria, CEE and Russia Region, Generali significantly increased its presence on the local market in 2018, after signing an agreement with KD Group to acquire the entire corporate capital of KD Funds and Adriatic Slovenica. The transactions were finalized after receiving the approval of the relevant supervisory authorities earlier this year.

 

THE GENERALI GROUP

Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in 50 countries in the world, with a total premium income of more than € 66 billion in 2018. With nearly 71,000 employees serving 61 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. Generali’s ambition is to be the lifetime partner to its customers, offering innovative and personalized solutions thanks to an unmatched distribution network. In Austria, Central and Eastern Europe and Russia the Group operates through its Austria, CEE & Russia Regional Office (Prague) in 13 countries.
Generali Investments has EUR 488 billion in assets under management globally, and EUR 20 billion in assets under management in the CEE countries, which makes it one of the largest asset management companies in the CEE region.

KD Funds selected as manager of SEGIP programme funds

SID Bank signed the agreement with the EIF in November 2017 to set-up the EUR 100 million SEGIP programme with the support of the European Fund for Strategic Investments (EFSI). It is intended for all small and medium-sized companies with up to 3.000 employees established in the Republic of Slovenia.

SEGIP supports the capacity building of private equity funds established in Slovenia and also regional and pan-European private equity funds active in Slovenia, through which equity and mezzanine financing will be provided to eligible SMEs and mid-cap companies in Slovenia. Such funds are required to be managed and investments made by fund managers that meet EIF eligibility standards of professional management. Under the EIF closed call procedure, KD Funds was selected for asset management of a private equity fund and will receive funding from SEGIP. The objective of SEGIP is to support companies in their growth and further development, added value creation, entering new markets, financing of investments and working capital and even acquisitions of other companies, export financing, and succession and reorganisation financing.

Luka Podlogar, President of the Management Board of KD Funds, says: “Small and medium-sized companies are the engine of the Slovenian economy, making a significant contribution to economic growth. However, due to a lack of equity financing many of these companies are unable to reach their full potential. Our private equity fund will invest in companies with high growth potential and ambitious teams requiring capital to finance their capacity expansion plans, sales network building, product development or for the acquisition of competitors. The fund will offer Slovenian investors a new, alternative investment opportunity to acquire an equity interest in fast growing small and medium-sized companies that would be otherwise difficult to invest in directly. We have been through a very intense period in which we successfully completed a legal, economic and market due diligence review of compliance with the EU equity financing standards. We are proud that KD Funds has been selected to participate in the Slovene Equity Growth Investment Programme. It is an opportunity for us to fulfil our mission of being a responsible financial intermediary that also contributes to the development and growth of the Slovenian economy.”