Natixis Global Asset Management acquired a majority ownership stake in an Australian equities manager.
France-headquartered Natixis Global Asset Management has acquired a 51.9 per cent stake in Investors Mutual Limited (IML).
Natixis has acquired all of the shares held by Pacific Current Group, along with the portion of the shares held by founder Anton Tagliaferro, for up to $155 million in cash. Natixis said there would be no changes to the way in which IML is run day-to-day, nor to its management.
First Move
The company, which has assets under management of $9.1 billion, will become an affiliate of Natixis Global Asset Management after the transaction closes in October 2017, the firm said in a press release.
The management team of IML will remain shareholders in the business alongside Natixis executives, and Tagliaferro will continue to run the business supported by Natixis head of research Hugh Giddy. «We have previously stated that it is our intention to pursue new growth in the Asia Pacific market, and this marks the first acquisition as part of those plans,» said Jean Raby Natixis chief executive.
