Indocam, the asset management arm of the Credit Agricole Group, is to buy Paris-based Alternative Investment Products and its Chicago-based sister company Alternative Investment Managers for an undisclosed sum.
The acquisition, which the fund manager hopes to complete in July, will bring Indocam’s total alternative assets under management to $1.5bn (£1.04bn). AIP and AIM manage $300m in fund of hedge funds and managed futures funds.
Indocam, which currently has $150bn under management, set up its alternative investment division in 1992. The AIP-AIM purchase will give the firm’s alternative investment products group a total of 35 professionals in Chicago, London and Paris.
According to Warren Clark, co-head of Indocam’s alternative investment products group, the acquisition “fits well with the business development strategy pursued by Indocam.”
By Geoffrey Ho
Here they are - the winners of the UK Pensions Awards 2019...
Sir Philip Green's restructuring proposals for his retail giant Arcadia will not "adequately protect" its pension schemes' members, The Pensions Regulator (TPR) has said.
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.