Amundi targets extra €1bn of AUM with innovation partnership

Amundi is co-launching an independent private equity asset management business to invest in innovative French technology firms.

The newly created business, with over €200 million of assets under management, is a partnership between Amundi and the French Alternative Energies and Atomic Energy Commission (CEA). The management firm is called Supernova Invest.

Existing assets under management come partly from an agreement that Supernova will manage or advise on certain CEA funds, including the CEA Investissement funds.

Supernova will also invest the Credit Agricole Innovations et Territoires fund. Credit Agricole, a 75% shareholder in Amundi, has raised €50 million for the fund, which supports early-stage innovation companies in industries such as agri-food and housing.

It is hoped the fund will reach €100 million by 2020 and that total assets under management for Supernova will reach €1 billion by 2020.

For Amundi, the partnership builds on an earlier infrastructure project with energy firm EDF.

©2017 funds europe

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