Expertise
Indirect Private Debt
Commitment
Professionals: 4
Offices: Milan
Our offering
We specialize in fund-of-funds strategies that identify top-tier global private debt asset managers. Our investment options include three key routes: Direct Lending, Asset-Based Lending, and Special Situations. Recently, we launched an innovative private credit secondaries strategy, that aims to provide clients with opportunities in a burgeoning market that targets both LP-led and GP-led transactions.
Our approach
We prioritize senior secured floating rate loans, while selectively evaluating subordinated and junior debt in commingled or dedicated funds across Europe, the UK, the US, and Asia-Pacific. We focus on defensive sectors benefiting from strong structural trends and experienced management teams with a consistent, strong track record.
Diversification through a single solution
Funds of funds provide professional investors with a streamlined way to access multiple private debt strategies within a single product, enabling significant portfolio diversification. Investments in private credit secondaries enable investors to quickly generate significant returns, achieve high diversification, and mitigate the J-curve effect.
Experienced management & institutional backing
With extensive experience in selecting and managing private debt asset managers for Generali Group, our senior team brings deep expertise and a disciplined approach to asset manager selection. We now offer professional clients the opportunity to invest in our private debt fund-of-funds and secondaries strategies alongside Generali Group, the cornerstone investor and one of the world’s largest institutional investors.

Marco Busca
Head of Indirect Private Debt
Industry experience: 16 years
The Strategies
Special situations
Asset-based lending
Direct lending
Source: Generali Asset Management S.p.A. Società di gestione del risparmio (“Generali AM”) as of end Q4 2024. Kindly note that on 1 January 2024, Generali Investments Partners S.p.A. Società di gestione del risparmio has been merged by incorporation into Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, changing its name to Generali AM. The figures thus refer to the sum of the AuM of the two entities at the reference date.