French La Banque Postale and Dutch-based insurer Aegon have announced the signature of a partnership between their two asset management subsidiaries. Aegon AM takes a 25% stake for €112.5m in La Banque Postale Asset Management’s capital.
The negotiations have been running since 18 December and the deal is expected to take effect by the end of Q2 2015.
With Aegon AM’s global expertise, the partnership will “strenghten La Banque Postale’s expertise and positioning” towards institutional investors, targeting particularly mutual and insurance companies.
La Banque Postale AM also said the partnership will set “an industrial cooperation for the launch of a new range of diversified funds dedicated to retail clients as a response to the issues produced by the historic drop of interest rates.”
The firm added that the deal will allow an international launch of its asset management expertises in public and private debt.
La Banque Postale AM was managing €150m as of 31 December 2014.