KCM boosts UK presence with acquisition of MN UK fiduciary

Dutch asset manager Kempen Capital Management (KCM) has announced the acquisition of the the UK fiduciary management activities of Dutch pensions & investment manager MN, in a bid to boost its presence in Britain.

As a result of the acquisition, KCM will integrate MN UK into its existing business. The current MN UK team will transfer in full to KCM to provide the day-to-day services for UK clients.

MN UK business services pension fund clients with assets totalling €10.9bn of which €3.5bn represents full-service fiduciary management mandates. The transaction will be completed in October 2015, subject to regulatory approval.

Paul Gerla, CEO of Kempen Capital Management, said: “We are very excited to announce this acquisition, which is an important landmark in expanding KCM, and especially its fiduciary management services at an international level. KCM has proven to be an entrepreneurial and innovative player in the highly competitive Dutch fiduciary management market. We are committed to doing the same in the UK, where demand for fiduciary management is increasing. MN has successfully built a fiduciary business in the UK and we look forward to developing that further.”

Remco van Eeuwijk, managing director of MN UK, adds: “I am excited that KCM has acquired the business that we have built since 2008. KCM has proven expertise and track record in fiduciary management and has a long-standing commitment to the UK. I am convinced that KCM is the right partner for our clients and staff and will enable us to accelerate the development of our business in a dynamic and competitive market.”

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