OTCex to acquire Cedrus AM
French asset manager and fund selection/allocation advisor Cedrus Asset Management will join financial services group OTCex.
OTCex will take a 55% majority stake in the capital of Cedrus AM specialised in sustainable and active fund management.
In detail, 48% will be purchased directly by the group and 7% by one of its asset management subsidiaries 360Hixance AM whose products mainly target private banks, family offices and CGPI.
Cedrus AM, which mostly works with French and European institutional investors and asset managers, has extended its offer in 2014 to wealth management professionals, employee savings plans and retirement savings solutions.
Into joining OTCex, Cedrus AM expects to speed up the development of its offer towards retail clients.
Established in 2012, the firm owned by its individual shareholders for 80% and business incubator NExT Invest part of La Française AM for 20%, advises and manages more than €391m as at December 2014.
With the acquisition of Cedrus AM, the AUM of OTCex’s asset management expertise will reach nearly €350m.