Amundi has finalised its acquisition from Oddo & Cie of Kleinwort Benson Investors (KBI), which now becomes part of the Amundi group.
Amundi has taken a majority 87.5 per cent shareholding, with the KBI management team acquiring the remaining 12.5 per cent.
KBI will now trade as KBI Global Investors (KBIGI).
KBI Global Investors is a fund management firm specialising in equity capabilities.
Based in Dublin, with offices in Boston and New York, it employs 62 people. Its management teams manage EUR8.1 billion of assets, as of 31 July 2016, mainly in global equity strategies.
KBI Global Investors’ assets under management grew 28 per cent on average per year between 2011 and 2015.
Amundi says the two firms are highly complementary in terms of products and geographical focus: KBI Global Investors’ expertise in global equities will significantly strengthen Amundi’s equity management offering; in return, KBI Global Investors will leverage Amundi’s strong retail and institutional presence in Europe, Asia and the Middle East.
Yves Perrier, chief executive officer of Amundi, says: “We are delighted to welcome the KBI Global Investors team to the Amundi Group. This acquisition is part of our strategy to offer the most effective investment solutions to our retail and institutional clients. KBI Global Investors will also significantly strengthen our offering in the equity asset class.”
Sean Hawkshaw, chief executive officer of KBI Global Investors, adds: "As part of the Amundi group we have the ideal platform from which to grow. We are deeply grateful to our clients, to our friends in the consulting community, and of course our employees, for their unwavering support over the past six months. Our assets under management have increased over this period, with additional flows from our existing clients as well as some significant new mandates; that has given us a great deal of encouragement."