French banking group Crédit Mutuel Arkéa has taken a 15% stake in value veteran Marc Renaud’s boutique, Mandarine Gestion.
The deal, which has been completed through Crédit Mutuel Arkéa’s subsidiary Arkéa Investment Services, is designed to act as a partnership agreement to help both companies make progress in the European equity asset class.
Mandarine Gestion retains full autonomy under the arrangement. The alliance has been designed to aid commercial development and to increase market share outside France, while also adding new client segments.
Crédit Mutuel Arkéa has recently implemented an ambitious growth plan within asset management, using a multi-boutique model. Through Arkéa Investment Services, it now has six specialist firms under its umbrella: Mandarine Gestion, allocation products specialist Federal Finance Gestion, wealth manager Arkéa Banque Privée, responsible investment firm Swen Capital Partners, quant firm Vivienne Investissement and fixed income fund house Schelcher Prince Gestion.
Commenting on the deal, Renaud said: ‘The arrival of Crédit Mutuel Arkéa as a shareholder of Mandarine Gestion will enable us to enter into a new phase in our development.
‘Membership in the constellation of investment specialists of Crédit Mutuel Arkéa will enable us to benefit from reinforced visibility within its network in France and elsewhere and to boost our commercial development, while preserving our independence.’
Crédit Mutuel Arkéa is made up of several federations as well as 30 specialised subsidiaries and has more than €125 billion in assets. It is one of the largest regional banks currently operating in France.