US-based Natixis Investment Management is on the cusp of acquiring a 24.9% minority stake in equity specialist WCM Investment Management, according to reports.
Terms of the deal have yet to be disclosed and are expected in 2H2018. Natixis CEO Jean Raby said in a joint news release from the two companies: “Our investment in WCM exemplifies our commitment to adding high-conviction, highly active investment managers to our multi-affiliate platform in order to provide our clients with a wide range of unique investment opportunities.”
In the same release Paul Black, co-CEO at WCM, said, “We’re really excited to enter into this partnership with Natixis. After a lot of thought and collective input, we concluded the smartest way to enhance our stability and to guard our investment temperament was to partner with a world-class global distribution platform.”
WCM managed $29bn to 31 May 2018. Natixis has 26 affiliated money managers on its investment platform and managed a $1tn as of 31 March 2018.