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Amundi — M&A Activity 2016
Aug 31, 2016
1109_iss_2016-08-31_e769bc58-b21c-45b6-9a52-39b346270b73.pdf
M&A Activity
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Press release
Amundi becomes the major shareholder of KBI following the acquisition from Oddo & Cie
London, 31st August 2016 – As announced on 23 rd May 2016, Amundi has today finalised the acquisition from Oddo & Cie of Kleinwort Benson Investors ("KBI"). KBI now becomes part of the Amundi group which takes a majority shareholding of 87.5% with the KBI management team acquiring the remaining 12.5%.
In light of the acquisition, KBI will now trade as KBI Global Investors ("KBIGI"), a brand that underlines the rich heritage of the company and identifies it clearly in international markets.
KBI Global Investors is a fast-growing fund management firm specializing in equity capabilities. Based in Dublin (Ireland), with offices in Boston and New York, it employs 62 people. Its highly experienced management teams manage 8.1 billion euros of assets at 31st July 2016*, mainly in global equity strategies. KBI Global Investors recorded excellent performance in recent years, and dynamic growth in assets under management: up 28% on average per year between 2011 and 2015.
Amundi and KBI Global Investors 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, commented, "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."
* This is the combined AUM of KBI Global Investors Ltd and KBI Global Investors (North America) Ltd as at 31st July 2016.
About Amundi
Amundi is the No.1 European Asset Manager and in the Top 10 worldwide1 with AUM of more than €1 trillion worldwide2 . Located at the heart of the main investment regions in more than 30 countries, Amundi offers a comprehensive range of products covering all asset classes and major currencies. Amundi has developed savings solutions to meet the needs of more than 100 million retail clients worldwide and designs innovative, high-performing products for institutional clients which are tailored specifically to their requirements and risk profile. The Group contributes to funding the economy by orienting savings towards company development.
Amundi has become a leading European player in asset management, recognised for:
- Product performance and transparency;
- Quality of client relationships based on a long-term advisory approach;
- Efficiency in its organisation and teams' promise to serving its clients;
- Commitment to sustainable development and socially responsible investment policies.
1. No.1 European asset manager based on global assets under Management (AUM) and the main headquarters being based in Europe- Source IPE "Top 400 asset managers" published in June 2015 and based on AUM as at December 2014.
2. Amundi Group figures as of 30 June 2016
About KBI Global Investors ("KBIGI")
KBI Global Investors is a specialist equity manager headquartered in Dublin, Ireland with sales offices in New York and Boston. KBI Global Investors was formed in 1980 and has been managing assets, predominantly global equities for institutional clients for over 35 years. KBI Global Investors has a global client base with mandates in the UK, Europe, North America and Asia.
www.kbiglobalinvestors.com
KBI Global Investors Ltd is regulated by the Central Bank of Ireland and subject to limited regulation by the Financial Conduct Authority in the UK. Details about the extent of our regulation by the Financial Conduct Authority are available from KBI Global Investors on request. KBI Global Investors (North America) Ltd is a registered investment adviser with the SEC and regulated by the Central Bank of Ireland. KBI Global Investors (North America) Ltd is a wholly-owned subsidiary of KBI Global Investors Ltd. Form ADV Part 1 and Part 2 are available on request. 'KBI Global Investors' refers to KBI Global Investors Ltd and KBI Global Investors (North America) Ltd.
Press Contacts:
For Amundi
Maitland James McFarlane T: +44 20 7379 5151 [email protected]
Press Contact Natacha Sharp T : +33 1 76 37 86 05 [email protected]
For KBIGI
Phoenix Financial PR Gordon Puckey T : +44 (0) 7799 767 468 [email protected] Investor Relations Annabelle Wiriath T: +33 1 76 32 59 84 [email protected]