Natixis to acquire 25 per cent stake in IDFC AMC
17 Dec 2010
Natixis Global Asset Management (NGAM) will acquire 25 per cent stake in IDFC Asset Management Company (IDFC AMC) for an undisclosed sum.
NGAM, with assets under management of $719 billion as of 30 September 2010, already has a significant presence in Asia, including Japan, Taiwan, Singapore and China.
This is the latest development in NGAM's stated goal to diversify its business globally, the company said in a release.
"Natixis Global Asset Management has an established asset management business with a strong global footprint and distribution capabilities. We look forward to a long and mutually beneficial partnership," IDFC managing director and CEO Rajiv Lall said.
The partnership will enable IDFC AMC to expand its global distribution and access global investors, the release stated.
IDFC AMC will also be able to offer domestic investors access to international investment opportunities through investment products managed by NGAM, the release added.
Natixis Global Asset Management is one of the 15 largest asset managers in the world based on assets under management. Its affiliated investment management firms and distribution and service groups include Absolute Asia Asset Management, Active Investment Advisors, AEW Capital Management, AlphaSimplex Group, Aurora Investment Management, Capital Growth Management, Caspian Capital Management, Gateway Investment Advisers, Hansberger Global Investors, Harris Associates, Loomis, Sayles and Company, Managed Portfolio Advisors, Natixis Global Associates, Reich & Tang Asset Management, Snyder Capital Management, Vaughan Nelson Investment Management, and Westpeak Global Advisors operating in the US and Asia.
In Europe, Natixis Global Asset Management includes three principal affiliates - Natixis Asset Management, Natixis Multimanager and AEW Europe - all based in Paris.
