Last updated: 09:41 / Monday, 16 November 2015
In Italy

Julius Baer to Acquire Majority Stake in Kairos Investment Management

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Julius Baer to Acquire Majority Stake in Kairos Investment Management
  • Julius Baer announced that it has agreed to increase its stake in Kairos Investment Management SpA by acquiring additional 60.1% of the Milan-based company, following its initial purchase of 19.9% in 2013
  • The transaction is expected to close in the course of 2016. Julius Baer and Kairos have also agreed to pursue the listing of Kairos on the Italian market as a second step
  • The transaction will significantly reinforce Julius Baer’s and Kairos’ long-term position in Italy and further fuel Kairos’ ambitious growth trajectory

Kairos Investment Management SpA, the leading independent Italian wealth and asset management firm, has delivered impressive, profitable growth since the start of its partnership with Julius Baer in 2013: assets under management have nearly doubled from EUR 4.5 billion to EUR 8 billion. On the back of this successful partnership, Julius Baer has decided to increase its participation to 80% for an undisclosed amount, following its initial purchase of 19.9%. The transaction is expected to close in the course of 2016. Julius Baer and Kairos have agreed to list Kairos in a subsequent step through an offering of a minority percentage of Kairos’ share capital. Both steps are subject to regulatory approval.

Kairos was established in 1999 as a partnership and today employs a total staff of over 150. The company is specialized in wealth and asset management, including best-in-class investment solutions and advice. Paolo Basilico, founding partner, president and CEO of Kairos, and his partners will continue to run the business with the same team and pursue the same client-centric strategy.

Boris F.J. Collardi, CEO of Julius Baer, commented: “The partnership between Julius Baer and Kairos has proven to be a powerful force in the Italian wealth management sector, surpassing our expectations when we started this journey in 2013. We are confident that the future close cooperation combined with the intended listing will bring additional growth momentum and will further strengthen our position in the Italian wealth management market.”

Paolo Basilico added: “We are very pleased with our development over the last years, which confirms our positioning to provide independent investment excellence to our clients. I am very much looking forward to deepening our partnership with Julius Baer and being able to spearhead Kairos into the next phase of growth.”

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