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Natixis boosts AM reach with value boutique purchase

Natixis boosts AM reach with value boutique purchase

Natixis Global Asset Management has expanded its global reach by announcing the purchase of a majority stake in an Australian asset manager.

The move is designed to build on the multi-boutique company’s footprint in the Asia Pacific region.

This has seen the company sign an agreement to take a 51.9% stake in Investors Mutual Limited, an Australia-based equity value specialist that oversees €6.1 billion in assets.

It marks Natixis Global Asset Management’s first major purchase in Australia and will give the company access to the country’s local retail and superannuation markets.

Natixis GAM also said it is reinforcing its distribution platform in Australia, following the establishment of an office in Sydney in 2015.

Under the terms of the acquisition, Natixis Global Asset Management will acquire all the shares in IML held by Pacific Current Group Limited along with a portion of the shares held by IML founder Anton Tagliaferro for up to AU$155m (€103m) in cash.

Under the terms of the deal, IML’s management team will remain shareholders in the business alongside Natixis Global Asset Management. Tagliaferro will continue to run the business, supported by its head of research, Hugh Giddy, and other senior leaders.

The transaction is expected to close in October 2017 and the acquisition will be financed out of Natixis’s own funds. The purchase will fit within Natixis’s wide-ranging multi-affiliate approach, which is now made up of around 20 firms.

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