Dutch asset manager NN Investment Partners (NN IP), formerly known as ING IM and part of NN Group, has announced targeting the €5bn cap of assets under management in France.
Paul Van Eynde, managing director and head of Institutional Clients Europe at NN IP, assessed that this goal could be reached in three years. He said a firm must post at least €5bn of AUM to be a key player in a local market.
NN IP posts currently €3bn of assets under management in France. The Dutch asset manager will then be launching French domiciled funds and intends to target mainly French institutional investors.
Van Eynde also pointed out that NN IP wants to strengthen its positions towards private banks in France and Monaco. In addition, the firm has the willing to gain more visibility towards fund selectors.
NN IP currently manages €186bn of assets.