Global asset management firm VanEck has acquired Dutch ETF issuer Think ETF Asset Management, the company has announced.
VanEck currently has six VanEck-sponsored Ucits ETFs available in Europe, which will rise to 20 following this acquisition.
The acquisition of the €1.5 billion ETF company will also further bolster VanEck’s European remit. It adds the Netherlands to its target market, alongside Germany, Switzerland, the UK and Italy.
Think ETF’s senior management will retain a minority stake in the company, with the rest being owned by VanEck, which currently has $46 billion in assets under management.
Commenting on the acquisition, VanEck’s CEO, Jan van Eck said: ‘ETFs have seen significant uptake from the investment community in Europe over the past several years, and there are events on the horizon that appear likely to spur an even greater migration of assets to the ETF structure in European markets.
‘As this unfolds, we are very excited to bring the Think team and their innovative product offerings into the VanEck fold.’
Think ETF Asset Management was launched in 2008 and its portfolio currently includes 14 ETFs that cover equities as well as corporate and government bonds.