- The transaction was first announced in November 2015, following an initial purchase of 19.9% in 2013
- Now the firm announces the transaction to acquire an additional stake of 60.1% in Kairos for US$ 314,51 million
- The executive management of Kairos will remain unchanged
Julius Baer yesterday announced that the transaction to acquire an additional stake of 60.1% in Kairos Investment Management for EUR 276 million (US$ 314,51 million) was completed on 1 April 2016, bringing the Group’s total ownership of Kairos to 80%.
Julius Baer first announced the transaction to increase its stake in Kairos by acquiring an additional 60.1% of the Milan-based companyin November 2015, following its initial purchase of 19.9% in 2013, and has since then received the relevant regulatory approvals.
The executive management of Kairos will remain unchanged and the transaction will significantly reinforce Julius Baer’s and Kairos’ long-term position in Italy and further fuel Kairos’ ambitious growth trajectory.
Kairos was established as a partnership in 1999 and today employs a total staff of over 150. The company is specialized in wealth and asset management, including independent best-in-class investment solutions and advice. As at 31 December 2015, Kairos’ assets under management had reached over EUR 8 billion (US$ 9,12 billion), up from approximately EUR 4 billion (US$ 4,56) billion when Julius Baer and Kairos started their strategic partnership in 2013.