French boutique Roche-Brune AM which is currently owned at 68% by financial group Primonial and 32% by Roche-Brune Patrimoine, the holding of the manager’s founder Bruno Fine, is to face forthcoming changes in shareholding.
Roche-Brune Patrimoine has agreed with Primonial to fully purchase Primonial’s stake. At the same time, Luxembourg-based asset manager Midas Wealth Management would join as new shareholder.
Roche-Brune Patrimoine and Midas Wealth Management will own 45% of the investment firm each. The remaining 10% will be bought by Monab, the holding of Alain Blanc-Brude, chairman of Midas Wealth Management.
All transactions are subject to regulatory approval.
Entering the capital of Roche-Brune AM will enable Midas Wealth Management to enlarge its offering towards high net worth individual clients with Roche-Brune AM’s equity strategies.
Roche-Brune AM will develop itself under the multi-boutique approach of Midas Wealth Management like it was already the case with previous majority shareholder Primonial.
The structure of Roche-Brune AM’s management team will not be impacted by these changes.
Launched in 2004, Roche-Brune AM managed or advised some €502m of assets as at 31 May 2017.
Midas Wealth Management had €1.4bn of assets under management or advisory as of end May 2017.