Sienna Completes Strategic Partnership With Holding Malakoff Humanis

Cleary Gottlieb represented Sienna Investment Managers (Sienna) in its long-term strategic partnership with Holding Malakoff Humanis (MH) in the field of retirement and employee savings.

The transaction was announced on October 5, 2021, and closing occurred on March 16, 2022.

The long-term strategic partnership, which aims to create a leader in savings in France, includes an industrial component to accelerate the distribution of MH’s savings business as well as the acquisition by Sienna of a majority interest in Malakoff Humanis Gestion d’Actifs (MH’s asset management company with €21 billion in assets under management as of December 2021).

Sienna is an alternative investment platform fully owned by the publicly traded investment holding company Groupe Bruxelles Lambert (GBL). Sienna manages €10.1 billion as of December 2021 (of which €3.1 billion in permanent capital or NAV) on behalf of its main shareholder GBL and international clients through real estate assets, investments in private funds and through direct equity investments in private companies.

Malakoff Humanis is a nonprofit, parity-based, mutual insurance group and the leader in group health and welfare insurance, with nearly €8.2 billion in equity capital, more than 400,000 corporate clients and 10 million protected individuals (insured and beneficiaries).