Wealth Managers

The European Commission has cleared the acquisition of Belgium’s largest private bank Degroof Petercam by CA Indosuez, a subsidiary of the Paris-based Crédit Agricole group.

The Commission said on Monday that it concluded that the proposed concentration does not raise competition concerns given the limited market positions of the companies involved.

Luxembourg-headquartered asset manager Candriam on Wednesday announced the launch of a new alternative investments platform as a response to growing demand for diverse alternative investment solutions in today’s market environment.

German investors have been internationalising their property portfolios for years. At the same time, foreign investors are increasingly drawn to the German real estate market. Though the momentum has fluctuated, the overall trend persists. As one of the leading fund domiciles in the world, Luxembourg has firmly established itself as a key player in this internationalisation.

Whisky asset manager Scotch Whisky Investments until recently focused mainly on private investors. That market continues as usual, but bringing in former ABN Amro director Eran Habets as CEO means more focus on selling to independent asset managers and family offices. And abroad, first and foremost Belgium.

With the official launch of Eltifs 2.0 in early 2024, the private semi-liquid private funds market is undergoing a revival, both in terms of products and assets under management.

Global wealth linked to art and collectibles is projected to grow by nearly a third to 2.861 billion dollars by 2026 from the level of 2.174 billion in 2022, according to the Deloitte Luxembourg Art & Finance Report 2023.

Belgian investor Frank Vlayen has taken a 47.5 percent stake in Antwerp-based Leo Stevens Private Banking. CEO Ive Mertens believes this deal will solidify the stockbroking firm’s independent trajectory.

European regulators, especially those in Paris and Luxembourg, are at odds over the regulatory and technical standards for the updated European Long Term Investment Funds scheme, known as Eltif 2.0, according to people familiar with the discussions.

This week’s overview of transfers, appointments and promotions includes updates from Alumia, Wealth Management Partners and Newton Investment Management.

M&G Investments on Monday said it is launching its first European Long Term Investment Fund, known as Eltif, as part of a new 500 million euro private credit strategy. The fund will be known as M&G Corporate Credit Opportunities.