French asset manager Amundi has completed the acquisition of 87.5% stake in Irish asset manager Kleinwort Benson Investors (KBI) from Oddo & Cie. The management team of KBI will own the remaining 12.5% stake.
Following the completion of the deal, first announced in May 2016, KBI has now become the part of the Amundi group. It will now trade as KBI Global Investors (KBIGI).
Dublin-based KBI Global Investors specializes in equity capabilities. It has offices in Boston and New York and employs 62 people. It managed EUR8.1bn of assets at 31st July 2016, mainly in global equity strategies.
Amundi CEO Yves Perrier 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.”
KBI Global Investors CEO Sean Hawkshaw 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."