ETF provider VanEck Investments has acquired a majority stake in Dutch ETF issuer Think ETF Asset Management, in a deal expected to be complete later this year after receiving pending regulatory approval.
Through the acquisition, VanEck will rise the number of its sponsored Ucits ETFs available in Europe from six to 20, as well as it will further strengthen the company’s remit in Europe adding the Netherlands to its target market.
Think’s senior management will keep a minority stake in the company, while the rest will be owned by VanEck.
Jan van Eck, CEO of VanEck, said: “ETFs have seen significant uptake from the investment community in Europe over the past several years, and there are events on the horizon that appear likely to spur an even greater migration of assets to the ETF structure in European markets. As this unfolds, we are very excited to bring the Think team and their innovative product offerings into the VanEck fold.”
Martijn Rozemuller, one of the two managing directors of Think, added: “In the Netherlands, as elsewhere in Europe, private and institutional investors are becoming increasingly aware of the advantages that ETFs offer. The next few years look to be especially transformative and may spur ever greater investor interest in the ETF category. Working with an established global ETF leader like VanEck is very exciting for us, and we are eager to add our thoughts, products, and ideas to VanEck’s efforts to grow its European reach.”
VanEck currently manages some $46bn in assets under management and has offices in Frankfurt, Germany, and Pfäffikon, Switzerland.
Think, founded and headquartered in Amsterdam, currently has around €1.5bn in assets under management.