European fund houses rush to acquire PE firms in ‘existential battle’
The rapidly declining profitability of traditional asset management is driving European fund houses to accelerate their pursuit of smaller players, with private equity firms becoming key targets in a wave of consolidation.
The French have made the ‘banking dream’ come true with BNP-AXA deal
French banks are making significant strides that could reshape the European asset management landscape. The acquisition of AXA Investment Managers by BNP Paribas heralds a new era under Basel III regulations, according to Mediobanca Andrea Filtri. “The once-forbidden dream is now reality, opening new horizons for mergers and acquisitions,” he said.
BNP Paribas wants to acquire AXA IM for €5.1 bln
BNP Paribas Group announced on Thursday that it has entered into exclusive negotiations to acquire AXA Investment Managers (AXA IM) from AXA.
Amundi commits $800 mln to deal with Texas-based Victory
Amundi, Europe’s biggest asset manager, is taking a 26.1 percent stake in Texas-based asset manager Victory Capital. The stake is valued at about 800 million dollars.
Rebranding problems due to consolidation
The ongoing, rapid consolidation in asset management is exposing problems around rebranding. “Crucial” is untangling one’s own story from broader sector narratives, in this jumble of mergers and acquisitions.