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Julius Baer acquires majority stake in Italian AM firm

Julius Baer acquires majority stake in Italian AM firm

Swiss private banking group Julius Baer has increased its stake in Milan-based Kairos Investment Partners to 80%, the company has announced

Julius Baer bought an additional stake of 60.1% of the Italian company on 1 April 2016 for €276 million becoming a majority shareholder.

The firm originally announced the purchase in November 2015 and has since received necessary regulatory approvals to ups its investment. Its initial acquisition of shares in the Italian asset management firm took place back in 2013 and amounted to 19.9% of the firm.

In a statement, Julius Baer said the additional purchase of shares will leave the executive management of Kairos unchanged. It added the transaction is set to strengthen both firms’ business in Italy.

In the next step, Julius Baer said it is planning to list Kairos through an offering of a minority percentage of its share capital when market conditions permit. The company’s partners will also retain a stake in Kairos post listing.

A wealth and asset management specialist Kairos Investment Partners was founded in 1999 and has a total staff of over 150 employees. As of December 2015 the firm has €8 billion assets under management. 

Kairos will continue to operate under its name and identity as part of the Julius Baer Group and provide for it an access to the Italian domestic wealth management market.

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