Dunas Capital to acquire Inverseguros
Iberian asset manager Dunas Capital has reached an agreement to fully acquire financial group Inverseguros offering financial products and real estate services to all sort of institutions.
The transaction to subject to regulatory approval by the local market authorities, Comisión Nacional del Mercado de Valores (CNMV) and Banco de España. The deal is expected to close at Summer 2016.
Dunas Capital, which manages €1.25bn of assets, makes a big step on the Spanish institutional segment. The deal is to strengthen its expertises, especially in real estate.
At end 2015, Inverseguros had over €700m in assets under management, split between Inverseguros Gestión (€637m) and Inverseguros Pensiones (€71m).
Among current shareholders of Inverseguros remain several insurance companies such as Aegon, Allianz, Catalana Occidente, Mapfre, CNP Partners and AXA.