European AM seeder takes 20% stake in Polen Capital
London based iM Square, a European investment and development platform dedicated to the asset management industry, has acquired a 20% stake in US independent boutique Polen Capital Management.
At the same time, Polen Capital’s employees have increased their ownership to 60% from 51%.
iM Square’s investment forms the first completed transaction since its launch in June 2015 by Philippe Couvrecelle and founding shareholders Amundi, Eurazeo and La Maison (an
investment group that includes Dassault Group as its leading shareholder).
iM Square expects to invest €250m in the next two to four years through five to 10 investments, primarily in the United States, but also in Europe and Asia.
Companies targeted manage between $1 bn (€0.9bn) and $15bn (€13.4bn), invest primarily in traditional and liquid asset classes and offer high growth potential.
“Like Polen Capital, iM Square is a long-term investor in businesses with high growth potential,” said Couvrecelle.
“Our unique model provides not only financial capital but also operational support to growing entrepreneurial investment firms like Polen that are already mature, profitable and admired in their local market. We look forward to giving the firm the support it needs to access European and Asian investors and create more opportunities for its growth.”
Growth and Global Growth strategies run by Polen Capital hold stocks, globally for at least five years, which the firm believes they are enough robust to face economic cycles with minimal volatility.
Polen Capital currently advises $7.5bn (€6.7bn) of assets.
Before launching iM Square, Philippe Couvrecelle, and Jean Maunoury worked at Edmond de Rothschild AM respectively as chairman of the executive board and head of Strategy.
iM Square may finance its long term growth with a possible IPO.