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Friday, December 21, 2018

What Kind of Deals Is Pioneer's Parent Hunting For?

News summary by MFWire's editors

The chief of Boston-based Pioneer Investments' (now Amundi Pioneer [profile]) parent is still on the hunt for acquisitions ... though perhaps not on this side of the pond.

Yves Perrier
"Bolt-on acquisitions are possible," Yves Perrier, CEO of Paris-based Amundi, tells Global Investor," provided that the targeted acquisitions can accelerate Amundi's development within the following three dimensions: reinforce Amundi's product expertise (notably real assets, passive/ETF); broaden distribution channels; and expand geographic reach with a focus on Europe and Asia."

"In any case, we will keep a highly disciplined approach, with requirements in line with past acquisitions: significant value creation through revenue and cost synergies; manageable execution and integration risk; and return on investment above 10% within three years," Perrier adds.

In the interview, Perrier also noted that Amundi has been "further strengthened by the successful integration of Pioneer Investments."

Worldwide (including Amundi Pioneer here in the U.S.), Amundi has about 4,500 employees, 1.475 trillion euros (about $1.683 trillion) in AUM, and 918 million euros (about $1.047 billion) in net 2017 income. The firm has brought in 48.5 billion euros ($55.34 billion) in net inflows so far this year. 

Edited by: Neil Anderson, Managing Editor

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