Investment firm Natixis has entered exclusive talks to purchase French boutique DNCA Finance amid plans to strengthen its global asset management presence.
The two groups entered into discussions today (February 19) regarding the acquisition.
Under the arrangement, DNCA would be added to Natixis Global Asset Management’s global line-up on independent investment management affiliates.
Natixis has begun talks with TA Associates, Banca Leonardo and the managers of DNCA regarding the purchase of its equity interests in DNCA.
DNCA’s management would remain a shareholder alongside Natixis Global Asset Management, which would then lead to a progressive withdrawal mechanism beginning in 2016. This would gradually increase Natixis GAM’s stake to 100%.
The acquisition is part of Natixis’ ‘New Frontier’ strategic plan, which is designed to increase growth in asset management revenues in Europe.
DNCA Finance currently oversees €14.6 billion in assets under management and is home to several top-rated managers, including Citywire AAA-rated European equity manager Isaac Chebar and Citywire + rated managers Philippe Champigneulle and Xavier Delaye.
Natixis said, under the acquisition, it would also allow DNCA to increase its international expansion beyond its existing main markets of France and Italy, while also leveraging on Natixis GAM’s global distribution platform.
Commenting on the proposed purchase, Pierre Servant, CEO of Natixis Global Asset Management and member of the senior management committee of Natixis in charge of Investment Solutions, said:
‘This projected acquisition furthers Natixis Global Asset Management’s strategy of expanding its multi-affiliate model in Europe and fueling our growth in retail markets through a unique combination of funds.’