Sustainability-focused asset management firm CANDRIAM and Rothschild & Co Asset Management Europe announced today that they have signed an agreement, through which Rothschild & Co Asset Management Europe’s alternative multi-asset management business will be transferred to CANDRIAM.
The transaction concerns open-ended funds domiciled in France and Luxembourg and dedicated institutional funds, representing total assets under management of almost 350 million euros.
The companies stated that they have formed a partnership agreement, under which the alternative investment funds of funds and a microfinance fund will be transferred to CANDRIAM, which will become the asset management company for these funds. Under the terms of the agreement, the Rothschild & Co Asset Management Europe alternative multi-asset management teams will also be transferred to CANDRIAM.
CANDRIAM stated that today’s deal reinforces its alternative multi-asset management solutions which has been offered to institutional investors over the past 20 years. CANDRIAM believes that the agreement gives the company sufficient size in this asset class to attract new investors.
CANDRIAM Deputy CIO Fabrice Cuchet stated:
“We are proud to have been chosen by Rothschild & Co Asset Management Europe to take over its alternative multi-asset management business. This deal will enable CANDRIAM to reinforce its value proposition and enter a new development phase in the alternative investment space, which should prove particularly appealing to investors in the current environment.”
Rothschild & Co Asset Management Europe Managing Partner Pierre Baudard added:
“We are pleased to be partnering with a leading player in alternative multi-management. This agreement will enable our clients to continue to benefit from expertise and know-how to support their investments in this asset class over the long term.”
The deal is still subject to regulatory approvals, notably from the AMF and the CSSF market regulators.