Natixis is in talks to acquire a stake in European investment management firm DNCA. The sellers are TA Associates, Banca Leonardo and DNCA management. No financial terms were disclosed. As a result of the transaction, DNCA’s management will retain a stake in Natixis.
BOSTON–(BUSINESS WIRE)–Natixis today announced it has entered into exclusive negotiations with TA Associates, Banca Leonardo and the managers of DNCA related to the proposal by Natixis Global Asset Management to acquire1 their equity interests in DNCA.
DNCA’s management would remain a shareholder alongside Natixis Global Asset Management and would benefit from a progressive withdrawal mechanism beginning in 2016 that would align medium-term interests and gradually increase Natixis Global Asset Management’s stake in DNCA to 100%.
This projected acquisition was presented to Natixis Global Asset Management’s representative bodies on Wednesday, February, 18, 2015.
The addition of DNCA1 to Natixis Global Asset Management’s global line-up of affiliates would represent a major step forward in Natixis’ New Frontier strategic plan by making a strong contribution to growth in asset management revenues in Europe, while also offering substantial potential for revenue synergies.
With €14.6 billionof assets under management at the end of January 2015, DNCA has pursued an entrepreneurial approach to developing a broad range of high-performing, well-recognized investment solutions for retail clients across Europe.
The combination of the proven expertise of Natixis Global Asset Management’s investment managers, DNCA’s solid investment performance and controlled risk profile, and the strong DNCA brand name would make a substantial contribution to the further development of Natixis Global Asset Management’s global multi-affiliate model and the reinforcement of its existing expertise.
The planned transaction would provide Natixis Global Asset Management with a unique combination of funds with which to strengthen its position in retail markets.
It would help DNCA step up its international expansion in retail markets outside of France and Italy and deploy its equity solutions to institutional clients by leveraging Natixis Global Asset Management’s global centralized distribution platform and support functions.
“We hope to welcome DNCA – an entrepreneurial French investment management company with renowned expertise – as one of our affiliates as soon as possible. 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,” says Pierre Servant, CEO of Natixis Global Asset Management and member of the senior management committee of Natixis in charge of Investment Solutions.
“We are looking forward to joining Natixis Global Asset Management and working together on a genuine international project. In view of DNCA Finance’s success over the last 15 years in France and Italy, our preference was to find a fast-growing French group to assist us in new markets, while retaining our own characteristics and our staff’s entrepreneurial strengths. The support and synergies that we will develop with Natixis Global Asset Management’s distribution platform and support functions will help us step up our international expansion,” explains Jean-Charles Mériaux, President of DNCA Finance, and Joseph Châtel, President of DNCA and Company.
About DNCA FINANCE
DNCA FINANCE is an investment management company founded in 2000 by specialists who are experts in pursuing a value-based focus to managing wealth for private and institutional investors. Through its team of 79 employees based in Paris, Milan, Luxembourg and Munich, DNCA FINANCE multiplied its assets under management by 3 over the past 2 years and as of January 31, 2015, it managed €14.6bn of assets. DNCA has developed expertise in European equities (long only and absolute return), diversified management, convertible bonds and euro-zone bonds, which are regularly rewarded by the specialized press.
About Natixis Global Asset Management, S.A.
Natixis Global Asset Management, S.A. is a multi-affiliate organization that offers a single point of access to more than 20 specialized investment firms in the U.S., Europe and Asia. The firm ranks among the world’s largest asset managers.2 Through its Durable Portfolio Construction® philosophy, the company is dedicated to providing innovative ideas on asset allocation and risk management that can help institutions, advisors and individuals address a range of modern market challenges. Natixis Global Asset Management, S.A. brings together the expertise of multiple specialized investment managers based in Europe, the United States and Asia to offer a wide spectrum of equity, fixed-income and alternative investment strategies.
Headquartered in Paris and Boston, Natixis Global Asset Management, S.A.’s assets under management totaled $890.0 billion (€735.5 billion) as of December 30, 2014.3 Natixis Global Asset Management, S.A. is part of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Global Asset Management, S.A.’s affiliated investment management firms and distribution and service groups include Absolute Asia Asset Management; Active Investment Advisors;4 AEW Capital Management; AEW Europe; AlphaSimplex Group; Aurora Investment Management; Axeltis; Capital Growth Management; Darius Capital Partners; Dorval Finance;5 Gateway Investment Advisers; H2O Asset Management;5 Harris Associates; IDFC Asset Management Company; Loomis, Sayles & Company; Managed Portfolio Advisors;4 McDonnell Investment Management; Mirova;6 Natixis Asset Management; Natixis Environment & Infrastructure Luxembourg; Ossiam; Reich & Tang Asset Management; Seeyond;7 Snyder Capital Management; Vaughan Nelson Investment Management; Vega Investment Managers; and Natixis Global Asset Management Private Equity, which includes Seventure Partners, Naxicap Partners, Alliance Entreprendre, Euro Private Equity, Caspian Private Equity and Eagle Asia Partners. Visit ngam.natixis.com for more information.
Natixis is the corporate, investment, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 36 million clients spread over two retail banking networks, Banque Populaire and Caisse d’Epargne. With more than 16,000 employees, Natixis has a number of areas of expertise that are organized into three main business lines: Wholesale Banking, Investment Solutions & Insurance, and Specialized Financial Services. A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE’s banking networks.