Unigestion has acquired Zurich fund provider Akina and has merged private equity businesses, positioning the Geneva group as a leader in the global small- and mid-market private equity space.
The boutique asset manager will now have $6 billion in assets under management in the private equity space, almost doubling its assets under management in this market segment.
The two private equity investment teams will blend and be led by Christophe de Dardel, Unigestion’s head of private equity and member of the executive committee.
The team will be made up of 54 private equity specialists, spread across Geneva, Zurich, London, New York and Singapore.
In November 2016, the Geneva asset manager expanded its private equity team in London with the announcement of four senior hires.
Following the acquisition, the combined businesses will trade under the Unigestion name and the group’s total assets under management will increase to over $23 billion, of which private equity counts for 25%.
The move will have no effect on the investment strategy of Unigestion and Akina’s existing products.
The agreement extends Unigestion’s institutional client base reach, particularly in the US, as the majority of Akina’s client base is institutional investors and family offices based in Europe and the US.
Commenting on the acquisition, chairman of Unigestion Bernard Sabrier said: ‘By combining the two businesses, we are creating a unique proposition with scale in an area of the market that consistently brings value to investors.’
On the merger, managing partner at Akina Christopher Bödtker said: ‘With greater scale and deeper resources we will have a really exciting proposition in global small- to mid-market private equity, which we are more passionate than ever about developing.’