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Tuesday, July 17, 2018

Natixis Buys in SoCal and Europe

News summary by MFWire's editors

Jean Raby just agreed to a partial acquisition deal here in the U.S. after sealing a different deal in Europe last month.

On July 11, Raby confirmed that Boston- and Paris-based Natixis Investment Managers has agreed to buy a 24.9-percent minority stake in Laguna Beach, California-based WCM Investment Management while becoming a long-term, exclusive distribution partner for WCM. Terms of the deal were not disclosed, and it's expected to close by the end of 2018.

The WCM deal comes after Natixis bought MV Credit, a European private credit specialist with offices in London and Luxembourg, on June 29. P&I reported on the WCM and MV deals.

Cambridge International Partners advised WCM on its Natixis deal. Raby, CEO of Natixis IM, confirms that WCM's co-CEOs, Paul Black and Kurt Winrich, will continue to lead the $29-billion-AUM, low turnover, high conviction, global equity manager. That includes $6 billion in mutual fund AUM as of the end of June, per Morningstar estimates.

Raby calls WCM "an excellent partner and strong addition" to the Natixis family.

"After a lot of thought and collective input, we concluded the smartest way to enhance our stability, and to guard our investment temperament, was to partner with a world-class global distribution platform," Black states.

"This partnership will allow us to stay focused on what we do best; namely nurturing and growing a vibrant, robust culture, and generating superior performance for our clients," Winrich states.

As for 18-year-old MV, they are now a "fully autonomous affiliate" of Natixis IM, according to Natixis' public statement on the deal, so the firm's branding, investment strategies, leadership, operations, and staffing are expected to continue as before. That includes Frederic Nadal, CEO of MV.  

Edited by: Neil Anderson, Managing Editor

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