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.”
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