FinEx Capital offers to buy Dexia Asset Management
FinEx Capital has announced an offer to buy 100% of Dexia Asset Management, the subsidiary of Belgium based Dexia SA.
The deal is proposed to increase the scope of FinEx Capital’s platform.
Simon Luhr, managing partner and CEO of FinEx Capital Management LLP, said: “FinEx has been looking to acquire an asset manager for some time to allow us to add scale to our existing platform before our planned expansion into Asia. We have been following the Dexia situation for some time and have decided to enter an offer to acquire Dexia. The business offers us a platform that is the right size and product mix for us and it will allow us to continue to grow our business.”
FinEx Capital is part of FinEx Group, which offers both passive and actively management products, and has AUM of more than $1bn. The asset management business offers hedge funds, private equity investments and ETFs, along with Ucits funds.
Dexia SA stopped a previous attempt to buy Dexia AM on 30 July this year. A deal agreed in December 2012 with GCS Capital fell apart after GCS was “not able to meet its contractual payment obligations”, according to a statement from Dexia at the time.
The decision to terminate that deal was taken after administrative and regulatory conditions had been met, including approval from the European Commission.