French asset management boutique Financière d’Uzès has completed the purchase of LGA Investissement Associé, the companies jointly said in a statement.
The announcement of a forthcoming acquisition by Financière d’Uzès had been reported by InvestmentEurope last December. Financial details of the transaction have not been disclosed .
LGA Investissement Associé runs four strategies including the A7 Picking fund, an asset allocation fund in which seven asset management companies, mostly French, select one of their funds that present the best return potential for a period of two months. Funds are changed every two months in the portfolio.
According to the terms of the deal, Joseph Alfonsi, chief executive officer of LGA-IA will join Uzès Gestion, the asset management arm of La Financière d’Uzès, as partner. Moreover, LGA-IA’s strategies will remain managed by Alfonsi and integrate Uzès Gestion’s fund range.
Past acquisitions of Financière d’Uzès include Lille-based independent financial adviser JFB Finances in 2015 and the boutique Paris Lyon Gestion in 2013, now known as Uzès Gestion.