Generali to buy majority stake in credit investment firm MGG for $320m
Generali Investments, part of Italy’s Generali Group, has entered a deal for a majority stake in MGG Investment Group (MGG), a New York-based private direct lending firm.
The transaction involves Generali Investments’ subsidiary, Conning & Company, purchasing 77% of MGG for $320m at closing, with additional payments contingent on future performance milestones.
MGG was launched in 2014 by CEO and CIO Kevin Griffin and McCourt Global. It operates in the private lending space, managing more than $6bn in assets.
The firm specialises in providing senior secured loans and structured capital solutions to US middle market companies.
MGG’s focus on non-sponsored borrowers and complex situations has allowed it to deploy more than $10bn…
