Eurizon Capital SGR and SLJ Macro Partners LLP have reached a strategic partnership agreement for the development of the asset management business in the UK.
SLJMP provides currency management services as well as investment and advisory services with a macro/top-down approach. As to 30 September 2015, SLJMP had an AUM of more than €1bn.
The partnership includes the joint equity participation of Eurizon Capital (65%) and the founding partners of SLJMP (35%), Stephen Li Jen and Fatih Yilmaz, in a target corporate structure based in London to which the activities of the current SLJMP will be transferred and through which new growth initiatives will be developed.
“The strategic value of this transaction should produce very significant growth opportunities as early as 2016, by exploiting the complementary nature of the strengths of SLJMP with those of Eurizon Capital SGR, from the internalisation of a part of the value chain of some products to the joint development of new corporate customers,” the asset manager said.
The completion of the agreed transaction is subject to normal conditions precedent, including regulatory approval from the relevant authorities.
The news came with the release of the company’s performance in Q3 which showed that between June and September Eurizon Capital and its subsidiaries in Italy and abroad showed a net inflow of €4.3bn taking the aggregate result from the beginning of the year to more than €30bn.