The Scarlatti real estate fund was set up in December 2006 with property assets worth 1.4 billion euros, consisting mainly of offices in Milan and Rome, it said in a statement.
"The unit price was based on NAV (net asset value) at 31 March 2008, net of income for the period," Generali said.
With a residual life period of 8.5 years, the fund is managed by Generali Immobiliare Italia SGR, a unit of the insurer's asset management arm Generali Investments SpA.
