New majority shareholder for French boutique

French boutique Roche-Brune AM which is currently owned at 68% by financial group Primonial and 32% by Roche-Brune Patrimoine, the holding of the manager’s founder Bruno Fine, is to face forthcoming changes in shareholding.

Roche-Brune Patrimoine has agreed with Primonial to fully purchase Primonial’s stake. At the same time, Luxembourg-based asset manager Midas Wealth Management would join as new shareholder.

Roche-Brune Patrimoine and Midas Wealth Management will own 45% of the investment firm each. The remaining 10% will be bought by Monab, the holding of Alain Blanc-Brude, chairman of Midas Wealth Management.

All transactions are subject to regulatory approval.

Entering the capital of Roche-Brune AM will enable Midas Wealth Management to enlarge its offering towards high net worth individual clients with Roche-Brune AM’s equity strategies.

Roche-Brune AM will develop itself under the multi-boutique approach of Midas Wealth Management like it was already the case with previous majority shareholder Primonial.

The structure of Roche-Brune AM’s management team will not be impacted by these changes.

Launched in 2004, Roche-Brune AM managed or advised some €502m of assets as at 31 May 2017.

Midas Wealth Management had €1.4bn of assets under management or advisory as of end May 2017.

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

Read more from Adrien Paredes-Vanheule

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