As announced on 23rd May 2016, Amundi has finalised the acquisition from Oddo & Cie of Kleinwort Benson Investors (“KBI”). KBI now becomes part of the Amundi group which takes a majority shareholding of 87.5% with the KBI management team acquiring the remaining 12.5%.
In light of the acquisition, KBI will now trade as KBI Global Investors (“KBIGI”), a brand that underlines the rich heritage of the company and identifies it clearly in international markets.
KBI Global Investors is a fast-growing fund management firm specializing in equity capabilities. Based in Dublin (Ireland), with offices in Boston and New York, it employs 62 people. Its highly experienced management teams manage 8.1 billion euros of assets at 31st July 2016, mainly in global equity strategies. KBI Global Investors recorded excellent performance in recent years, and dynamic growth in assets under management: up 28% on average per year between 2011 and 2015.
Amundi and KBI Global Investors are highly complementary in terms of products and geographical focus: KBI Global Investors’ expertise in global equities will significantly strengthen Amundi’s equity management offering; in return, KBI Global Investors will leverage Amundi’s strong retail and institutional presence in Europe, Asia and the Middle East.
Yves Perrier, Chief Executive Officer of Amundi, commented, “We are delighted to welcome the KBI Global Investors team to the Amundi Group. This acquisition is part of our strategy to offer the most effective investment solutions to our retail and institutional clients. KBI Global Investors will also significantly strengthen our offering in the equity asset class.”
Sean Hawkshaw, Chief Executive Officer of KBI Global Investors, adds, “As part of the Amundi group we have the ideal platform from which to grow. We are deeply grateful to our clients, to our friends in the consulting community, and of course our employees, for their unwavering support over the past six months. Our assets under management have increased over this period, with additional flows from our existing clients as well as some significant new mandates; that has given us a great deal of encouragement.”