Assicurazioni Generali, one of the world’s leading insurance and asset management groups, and Peter Kraus, the former Chairman and CEO of AllianceBernstein, formed a joint venture company, Aperture Investors, which will be an asset management firm. Financial terms were not disclosed. Tim Ryan, CEO of Generali Asset Management, commented: “Aperture Investors is another important milestone in Generali's multi-boutique strategy launched last year. We believe that innovation is not only a key lever for our long-term success but also an opportunity for Generali to guide the process of change as a leader in the insurance and financial industry. Aperture Investors offers us the ability to develop a new model that addresses manager incentives while also leveraging invaluable know-how in our sector.”