Asset management roundup: Generali backs 'disruptive' startup with $4bn
Italian financial services group Generali has backed a "disruptive" asset management startup led by former AllianceBernstein CEO Peter Kraus.
In a statement, Generali said it would provide up to $4bn (EUR3.4bn) of "strategic investment capital" for Aperture Investors' first products, which operate a "unique" charging structure.
Aperture has lined up credit and equity funds priced initially in line with exchange-traded funds. Fees for both the company and the individual asset managers...