French asset management group Amundi has completed the acquisition of Kleinwort Benson Investors (KBI) from Oddo & Ci.
Amundi becomes the main shareholder of KBI with a 87.5% stake in the firm’s capital while the remaining 12.5% have been acquired by the KBI management team.
Following the purchase, KBI has been rebranded as KBI Global Investors (KBIGI), a brand that “underlines the rich heritage of the company and identifies it clearly in international markets.”
Based in Dublin, with offices in Boston and New York, KBI Global Investors managed €8.1bn euros of assets as at 31 July 2016mainly in global equity strategies.
KBI Global Investors’ expertise in global equities aims to strengthen Amundi’s equity management offering. The firm will leverage Amundi’s retail and institutional presence in Europe, Asia and the Middle East.
Yves Perrier, chief executive officer of Amundi, commented: “We are delighted to welcome the KBI Global Investors team to the Amundi Group. This acquisition is part of our strategy to offer the most effective investment solutions to our retail and institutional clients. KBI Global Investors will also significantly strengthen our offering in the equity asset class.”
Sean Hawkshaw, chief executive officer of KBI Global Investors, said: “As part of the Amundi group we have the ideal platform from which to grow. We are deeply grateful to our clients, to our friends in the consulting community, and of course our employees, for their unwavering support over the past six months.
“Our assets under management have increased over this period, with additional flows from our existing clients as well as some significant new mandates; that has given us a great deal of encouragement.”