Slovenia's Triglav sets up alternative investments firm with Germany's KGAL

"The purpose of the platform will be to obtain funds from institutional investors and invest them in various types of investments such as real property, infrastructure projects and other alternative investments, primarily in the Adria region", the insurer said in a filing to the Ljubljana bourse.

Upon establishment, the newly founded Ljubljana-based company will have capital of 1 million euro ($1.1 million), of which 499,000 euro will be paid in by Zavarovalnica Triglav.

The newly founded company will provide advisory and operational services for its investors and will organize their investments into funds from different managers.

The project will be carried out together with KGAL Group, which has chosen Zavarovalnica Triglav as its partner for entry into the Adria region, Zavarovalnica Triglav said.

The KGAL Group is a specialised investment manager, managing assets of some 22 billion euro and providing its services to insurance undertakings, pension funds and institutional investors in the German and other European markets.

"The strategic partnership with the KGAL Group is part of the announced practice of the Triglav Group to cooperate with companies that will complement its business model with their specific know-how and experience", the Slovenian insurer also said.

The establishment of a regional platform for alternative investments is part of the strategic guideline of the Triglav Group to further strengthen its asset management services as the second pillar of its operations in the Adria region by 2020.

($=0.924985 euro)