Italy's Generali is growing in the United States. Subsidiary Generali Investments, a global asset management company, and MGG Investment Group, an investment company specializing in direct private loans with about $5 billion in assets under management, announced the signing of an agreement under which Conning & Company, the wholly owned subsidiary of Generali Investments, will acquire a majority stake in MGG and its affiliates. In detail, Conning & Company will acquire 77% of MGG for $320 million, with an additional monetary commitment subject to the achievement of certain operational milestones. Current shareholders, including management of MGG and McCourt Global, will retain a minority stake. Founded in 2014 and headquartered in New York, MGG provides senior secured lending and structured capital solutions to middle market companies in the United States. Since its founding, the company has invested more than $10 billion in more than 175 transactions.