French asset manager Dôm Finance has acquired the fund boutique Diamant Bleu Gestion in an operation aimed at increasing the manager's assets to €1.8bn, according to the French financial publication NewsManagers.
The acquisition received regulatory approvals from the French regulator AMF at the beginning of July.
The deal will see the co-founder and CEO of Diamant Bleu Gestion Christian Jimenez joining the Dôm Finance team as co-CEO, reporting to chief executive Vincent Priou.
Jimenez set up the asset management firm Diamant Bleu Gestion in 2008 alongside Hugues Le Maire, who departed the group earlier this year in February. French asset manager La Française owns a 15% stake in the group through its affiliate Next AM.
Before launching Diamant Bleu in 2008, Jimenez was the CFO at Ecureuil Vie. He previously held various positions at Caisse d'Espargne, Eulia, CNCE, and BNP Paribas after having started his career at the Banque de France in 1984.