British asset manager Allianz Global Investors (AllianzGI) has completed the acquisition of London-based global fixed income specialist Rogge Global Partners (RGP).
The deal further bolters AllianzGI’s fixed income capability and provides greater global distribution potential for RGP’s strategies.
Commenting on the takeover, AllianzGI global head of fixed income and a member of its global executive committee Franck Dixmier said: "Adding RGP’s fundamental global fixed income expertise to our investment platform fills an important gap in our product range for clients. It strengthens our fixed income knowledge base and client book beyond our traditional European centres and will, over time, present us with exciting new opportunities to create further additional products."
AllianzGI said that it will maintain the distinct dynamics and processes of RGP’s old investment philosophy within its global investment platform.
Consequently, Malie Conway will continue to lead the RGP team and in the role of CIO Global Fixed Income reporting to Franck Dixmier.
Also, RGP’s Emerging Market expertise will be clubbed with that of AllianzGI’s EM Debt team, led by Greg Saichin.
"The portfolio managers in the newly combined EM Debt team will continue to report to Greg Saichin, as part of the RGP setup," AllianzGI said in a statement.
AllianzGI CEO and global CIO Andreas Utermann said: "The successful completion of this transaction marks a significant milestone in the evolution of AllianzGI, giving our clients access to a suite of proven and distinct global fixed income strategies. As well as augmenting our expertise in global fundamental fixed income – an asset class where we continue to see very strong client demand – the acquisition of RGP substantially increases our footprint in the UK, a strategically important market for AllianzGI."
AllianzGI agreed to purchase 100% of the issued share capital in Rogge Global Partners (RGP) from Old Mutual for an undisclosed sum in February 2016.