(Ljubljana, 13 June 2023) Generali Investments, the manager of Generali Growth Equity Fund, a private equity fund (Generali Growth SIS d.o.o. k.d., “the Fund”), and ALFI PE, upravljanje alternativnih investicijskih skladov, d.o.o., signed an agreement on the sale of Generali Investments’ stakes in the companies Generali Investments GP 1 d.o.o. and Generali Investments GP2 d.o.o., and on the sale of its equity shares in Generali Investments CP d.o.o. k.d., transferring the management of Generali Growth Equity Fund, a private equity fund, to ALFI PE d.o.o. as the Fund’s new manager. ALFI PE d.o.o. is a member of ALFI SKLADI, the largest alternative fund management group in Slovenia.
The finalised transaction and transfer of the Fund’s management to the new manager will not alter the Fund’s policy nor will it affect the Fund’s investors. The Generali Group continues to be the Fund’s second largest investor, after the European Investment Fund (EIF). To close the transaction, all the necessary approvals of the Fund’s bodies and regulatory authorisations have been obtained.
Generali Investments continues to manage alternative investment funds, including the very successful Generali Adriatic Value Fund, a real estate fund. Generali Group thus remains a strong supporter of the Slovenian economy, not only through its insurance and asset management services but also as an investor making direct investments in Slovenian companies. Moreover, Generali Investments continues to strengthen its asset management activities in Slovenia, standing by Slovenian investors as a partner in both asset management and financial advisory.
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 SEGIP (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.