Positive Partnership Catalyst for ICG

2 months ago

"also on the move today ICG what is what is driving interest in that stock >> um so first of all positive positive results they had profit coming in ahead of expectations but mostly the uh they announced a partnership with Amundi which is the Europe's largest asset manager. So, Amundi is planning to take a 10% uh stake in ICG and there will also be a 10-year commercial agreement between the two where Amundi will be uh the exclusive global distributor for some of ICG's products. And the idea for Amundi that is to expand into uh expand his footprint into private markets and ICG is a specialist. They're a private equity specialist, a credit specialist, and for ICG that obviously helps with access to the wealth channel, they said, and it's also obviously quite a high-profile partnership with a big name. And all of that contributed to quite a positive [music] share price move this morning for ICG."

ICG delivered better-than-expected profits and announced a significant 10-year partnership with Amundi, Europe's largest asset manager, which will take a 10% stake and serve as exclusive global distributor for some products. This catalyst is driving immediate, positive share price momentum.

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