Natixis takes majority of IML
European-based global asset management company, Natixis today has taken a majority stake in Anton Tagliaferro’s Investors Mutual.
The two companies confirmed today the signing of definitive agreements which will see Natixis Global Asset Management acquire a majority ownership stake (51.9 per cent) in Investors Mutual Limited (IML) in Australia.
Under the terms of the acquisition, Natixis will acquire all the shares in IML held by Pacific Current Group Limited, along with a portion of the shares in IML held by Tagliaferro for up to $155 million in cash.
The transaction is expected to close in October 2017. The acquisition will be financed out of Natixis’ own funds.
IML’s management team will remain shareholders in the business alongside Natixis Global Asset Management with Tagliaferro continuing to run the business supported by head of research, Hugh Giddy and other senior leaders.
The announcement said that under Natixis Global Asset Management’s multi-affiliate strategy, IML would retain its autonomy, investment philosophy and culture, as well as benefit from the support and stability of a global group that specialises in asset management and which has a track record of successful ownership and development of investment management companies around the world.
Commenting on the transaction, Natixis chief executive, Jean Raby said the company had previously stated that its intention to pursue new growth in the Asia-Pacific market, and the transaction marked the first acquisition as part of those plans.
“IML has a strong track record as one of Australia’s most consistently-performing fund managers, and its commitment to investors and reputation in the market will make a significant contribution to Natixis Global Asset Management’s multi-affiliate model,” he said.
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.
