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Edmond de Rothschild picking up ERAAM stake
Posted on Thursday, 11 July 2019 14:33
Edmond de Rothschild Asset Management has reached an agreement to acquire a 34.0 per cent shareholding in French asset manager ERAAM.

Under the terms of the transaction, the buyer will pay an undisclosed sum to take over the stake from Cyril Julliard, founding chairman of the target.

Completion of the deal remains subject to approval from regulatory bodies.

Commenting on the agreement, Christophe Caspar, chief executive of asset management at Edmond de Rothschild, said: “This partnership will strengthen our offer in the short term and, in the mid-term, will mean all our asset managers can supplement their own analyses with the tools and processes developed over time by ERAAM.”

Julliard added: “Our partnership with Edmond de Rothschild will accelerate our investment into research and allow us to develop new factor investing products to suit our investors’ desire for diversification.”

No further details of the deal have been disclosed at this time.

ERAAM describes itself as an independent European asset manager.

The company has a history dating back 19 years and an extensive client base comprising institutions, family offices and independent financial advisors.

According to Zephyr, the M&A database published by Bureau van Dijk, there have been 480 deals targeting portfolio management companies announced worldwide since the beginning of 2019.

The most valuable of these is worth USD 4.80 billion and took the form of an acquisition as Brookfield Asset Management agreed to pick up a 62.0 per cent shareholding in Oaktree Capital Group.

This was followed by a USD 2.25 billion purchase of Chinese firm National Power Investment Group Capital Holdings by SPIC Dongfang New Energy, which was announced in April.

Other companies in the sector to have been targeted this year include AXA Equitable Holdings, China Reform Health Management and Services Group and Reliance Nippon Life Asset Management.

© Zephus Ltd