ThreeSixty Investments has received regulatory approval to operate as an asset manager under Italian law.
The firm was set up in April 2019 via a partnership between Generali Group and an experienced team, led by the former chief executive of Pioneer Investments, Giordano Lombardo.
He is joined by Mauro Ratto, previously Pioneer’s head of emerging markets; Diego Franzin, formerly head of equities at Pioneer and Amundi; and Robert Richardson, who was head of Pioneer’s operations in Ireland.
ThreeSixty will develop global multi-asset strategies to serve the needs of retail, private and institutional clients around the world.
The launch of its inaugural fund is expected in the first half of 2020, pending relevant regulatory approvals.
The company will be part of Generali Group’s multi-boutique asset management ecosystem, which combines traditional investment strategies with alternative, “cutting–edge solutions developed by specialised and autonomous firms”, the Italian insurer said.
Generali holds the majority stake in each firm and is co-investing in their products and solutions.
In onboarding boutiques, Generali looks at specialised and distinctive capabilities in both real assets (real estate, infrastructure, private equity and private debt) and high-conviction segments.
Through this business model, it aims to become one of the top five multi-boutique asset managers in the world in terms of profits.
New approach needed
Tim Ryan, Generali Group chief investment officer, said: “ThreeSixty Investments will further enhance our offering with distinctive multi-asset capabilities.
“Leveraging the proven expertise and deep market knowledge of its founders and management team, we will be able to provide our clients with new innovative solutions aimed at meeting their return goals.”
ThreeSixty chief executive Lombardo added: “We believe that the investment environment for the coming years requires a completely new approach.
“The aim is to employ our clients’ capital for only the best investment opportunities, without relying on traditional financial market benchmarks.
“With a long-term investment horizon and a careful approach to avoiding capital deterioration risk, we will be unfettered by traditional benchmark investing to focus only on the outcome for our clients.”