Natixis Global Asset Management has bought a majority stake in Australian asset manager Investors Mutual for around $121m, as part of the firm's Asian expansion plans.
According to Reuters, Natixis GAM will buy all of parent Pacific Current Group's shares in the firm, while also purchasing a chunk of shares from Anton Tagliaferro, the founder of Investors Mutual. Natixis' stake in the firm will total 51.9%, with the deal expected to close later this month according to Natixis GAM CEO Jean Raby. The Australian business has $7.2bn in AUM. CEO Raby, who joined Natixis GAM in February, said: "We have previously stated that it is our intention to pursue new growth in the Asia Pacific market, and this marks the first acquisition as part of those plans," ...
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