Latest news with #GeneraliInvestments
Business Wire
6 days ago
- Business
- Business Wire
Aperture Investors Hires Nick Turgeon to Launch and Lead Asset-Based Finance Strategy
NEW YORK--(BUSINESS WIRE)--Aperture Investors, an alternative asset manager and part of Generali Investments, today announced the launch of its new Asset-Based Finance Strategy, expanding the firm's growing private credit offering. Nick Turgeon has joined the firm to lead the strategy as Global Head of Asset-Based Finance and serve as Portfolio Manager of the fund, supported by an experienced investment team and backed by Generali Group. The strategy will launch with significant seed capital from Generali Investments, the asset management arm of the Generali Group, and is already attracting strong interest from third-party investors, targeting an initial strategy size of $1 billion. Initially focused on asset-based finance opportunities in North America, the strategy aims to expand into European credit markets over time. Built around flexible capital that can grow alongside leading originators, it maintains a focused footprint to ensure selectivity and disciplined deployment—positioning Aperture to access differentiated opportunities and align with investors' long-term objectives. Turgeon brings deep experience in sourcing, analyzing, structuring, and managing asset-based finance investments. Most recently, he was a managing director on the Specialty Finance team at Castlelake, a global alternative investment firm, where he spent eight years. Prior to that, he worked in the leveraged finance group at U.S. Bank, managing private equity sponsor transactions. He began his career in fixed income sales and trading at Piper Sandler (formerly Piper Jaffray). 'We're excited to welcome Nick Turgeon to lead this new strategy at a pivotal time for asset-based finance within the evolving private credit landscape,' said Peter Kraus, CEO and Chairman of Aperture. 'Nick brings the right experience to lead this effort, and his appointment reflects our broader commitment to expanding in segments of the private credit market where flexible, well-underwritten capital is in demand.' 'Aperture offers the right foundation to build a focused asset-based finance strategy at a time when traditional lenders are retrenching and financing needs are becoming more nuanced," said Turgeon. 'Our approach is grounded in disciplined investing, with a focus on understanding asset-level fundamentals and structuring capital solutions that are responsive to the needs of originators while maintaining a strong emphasis on risk and alignment.' With the launch of the Asset-Based Finance strategy, Aperture now manages more than $2.3 billion in committed capital across its alternative credit platform. It also marks the latest milestone in a period of significant growth for the firm, following the introduction of its Structured Credit strategy in January 2025 and Litigation Finance strategy in September 2024. About Aperture Investors Aperture Investors is an alternative asset manager overseeing approximately $5.2 billion in assets under management and committed and seed capital (as of June 30, 2025). Founded in partnership with Generali Group, a leading global insurance and asset management group, Aperture combines the entrepreneurial agility of a boutique with the institutional strength of a global platform. With investment strategies spanning public and private markets, Aperture's top-tier portfolio managers and teams deliver alpha-focused investment solutions, with a commitment to transparency and client alignment. For more information, visit us at
Bloomberg
6 days ago
- Business
- Bloomberg
Aperture Investors Eyes $1 Billion Asset-Backed Finance Fund
Markets Aperture Investors is targeting a $1 billion fund for its newly formed asset-backed finance strategy. The new fund will focus on asset-based finance opportunities in North America, with plans to expand to Europe, according to an emailed statement. The strategy is launching with seed capital from Generali Investments, which manages assets on behalf of insurance firm Assicurazioni Generali SpA.
Reuters
20-05-2025
- Business
- Reuters
Romanian leu falls back as central bank keeps rate cut in view
WARSAW, May 20 (Reuters) - The Romanian leu pulled back on Tuesday, halting a post-election rally as the central bank said a rate cut could still come later this year. By 0945 GMT the Romanian leu had dropped 0.9% against the euro to 5.0844, giving back most of the gains it clawed back after Sunday's surprise presidential election victory of centrist Nicusor Dan over a hard-right rival. Romanian central bank Governor Mugur Isarescu on Tuesday, speaking for the first time since the leu fell to record lows in the election run-up, said the bank could discuss interest rate moves once the perception of the country's markets improves and capital that left returns. Conditions were being created for a rate cut in the second half of 2025, he said, with inflation seen coming down. The leu retreated with the comments - while domestic bond yields were a touch lower - highlighting market fragility in Romania where the next president still must find a new prime minister and install a government that can tackle Europe's biggest fiscal deficit. "For sure, markets were pleased by the win of centrist candidate Dan but investors are very well aware of the fact that a lot of has to be done in terms of correction of notorious imbalances," Generali Investments CEE analyst Jakub Kratky said. "That said, any news like a dovish comment or reminder made by Isarescu could change the tide pretty swiftly." Markets had fallen earlier in May when nationalist George Simion had a strong first-round showing, raising worry over shifting policies that would add fiscal pressure and put Romania's rating at risk. The central bank intervened with "large sums" the day after the first round, according to Isarescu, but could not protect the leu for falling past 5 per euro for the first time ever. Isarescu said the market had "underestimated" how much central bank had spent to defend the leu, which shed as much as 3% and is still down around 2% since before the election. In Poland, which held the first round of its presidential election on Sunday, the zloty edged 0.1% higher to 4.2440 per euro, remaining within the range it has largely been trading in since mid-May. Sunday's voting result pits a liberal candidate from Poland's main ruling party (KO) against a conservative contender backed by the former ruling party (PiS) in a run-off on June 1, which will keep markets on edge. In Hungary, the forint eased 0.2% to 402.40 per euro, pulling back from its strongest standing since early April, hit on Monday, and returning to the level it ended the previous week. Elsewhere the Czech crown was flat at 24.9030 per euro.
Zawya
13-03-2025
- Business
- Zawya
Currencies tread water as tariff jitters persist; stocks down
Most emerging market currencies traded in a tight range on Thursday as concerns about the impact of U.S. President Donald Trump's trade policies lingered, while losses in heavyweight Chinese and Hong Kong markets weighed on stocks. Uncertainty around U.S. tariffs continued to dominate after Trump on Wednesday threatened to escalate a global trade war by imposing further tariffs on European Union goods. U.S. producer price data will be in focus later in the day following a softer-than-anticipated consumer prices reading on Wednesday which gave markets only short-lived relief. "The large uncertainty shock caused by the erratic economic policy announcements of the Trump administration greatly complicates the Fed's task," said Paolo Zanghieri, senior economist at Generali Investments. Traders expect more than 70 basis points of U.S. rate cuts by December, with the first cut this year likely in June, according to LSEG data. Currencies of emerging European nations weakened a touch against the euro, with Hungary's forint down 0.2%, while local stocks were largely subdued. MSCI's index for EM stocks, meanwhile, slipped 0.5% as shares in Hong Kong and Mainland China fell, dragged down by tech stocks. EM stocks have outperformed the U.S. S&P 500 so far in March, as beaten down Indian equities have recouped some of their losses and Beijing has vowed more support for its ailing economy. Central Eastern Europe was not far behind as hopes of a peace deal between Russia and Ukraine lifted sentiment, in contrast to a sharp drop in American equities, where the S&P 500 briefly flirted with slipping into a correction. South Africa's rand weakened 0.4%, extending losses from the previous session when a revised budget by South Africa's finance minister was rejected by major political parties, even though a proposed increase in value-added tax was sharply reduced. The country's finance minister told Reuters on Thursday that budget may be tweaked further. Ukraine's international bonds extended gains after Kyiv expressed support for Washington's proposal of a 30-day ceasefire with Russia. The Kremlin said it would review details of Washington's proposal before responding. The 2034 maturity rose about 0.2 cents on the dollar, to be bid at 58.32 cents, Tradeweb data showed
