4 October 2017

Natixis GAM Acquires Majority Stake In Australian Firm

Published by Wealth Briefing Asia – 4th Oct 2017

Natixis will acquire 51.9 per cent of the specialist Australian equities fund manager.

Natixis Global Asset Management has expanded its presence in Asia-Pacific with the acquisition of a majority stake (51.9 per cent) in Investors Mutual Limited, a specialist Australian equities fund manager established in 1998.

After the acquisition of the majority stake, IML has become a new affiliate of Natixis Global Asset Management, Natixis said in a statement yesterday.

Under the terms of the acquisition, Natixis Global Asset Management will acquire all the shares in IML held by Pacific Current Group Limited, along with a portion of the shares in IML held by IML founder Anton Tagliaferro, for up to A$155 million ($121 million) in cash, which gives the firm an equity stake of 51.9 per cent in IML.

The transaction is expected to close in October 2017. The acquisition will be financed out of Natixis’ own funds.

IML’s management team will remain shareholders in the business alongside Natixis Global Asset Management. IML investment director, Anton Tagliaferro, will continue to run the business, supported by head of research, Hugh Giddy and other senior leaders.

With IML, Natixis GAM is continuing its expansion into APAC and Australia, after the establishment of an office in Sydney in 2015

“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,” said chief executive of Natixis GAM, Jean Raby. “IML has a strong track record as one of Australia’s most consistently-performing fund managers, and its commitment to investors and reputation in the market will make a significant contribution to the Natixis Global Asset Management multi-affiliate model.”

Natixis Global Asset Management currently has over 20 affiliates, each of which concentrates on the investment styles and disciplines in which they have proven expertise.  IML, an asset manager, has assets under management of A$9.1 billion.