French Asset Management Firms Agree Partnership
Wednesday, April 9, 2014
French asset management giant Amundi, a subsidiary of French banks Société Générale and Crédit Agricole, and Tikehau have announced that they have entered a strategic partnership with a focus on private debt management.
The partnership will give Amundi's international client base access to Tikehau's product range. It will enable Tikehau to accelerate the development of its asset management platform, Tikehau IM, targeting all client segments from retail clients to institutional investors and sovereign funds. Together, the two companies will also be able to launch new products marketed under the Amundi/Tikehau dual brand. Finally, both companies will jointly explore future avenues of cooperation in all their areas of expertise.
Under this partnership, and subject to the supervisory authorities' approval, Amundi will acquire a 12.8 percent stake in the management company Tikehau IM and a 7.3 percent stake in Tikehau Capital Advisors.
Yves Perrier, Chief Executive Officer of Amundi, said: "This partnership is perfectly in line with Amundi's product policy, offering its clients a broad range of high-quality expertise tailored to the needs of each client segment. In addition to its in-house asset management, Amundi will be able to offer products from external partnerships."
With close to EUR780bn (USD1.073 trillion) in assets under management, Amundi is one of the world market leaders in asset management.