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Friday, May 27, 2016|
Pioneer's Fate Is Up In the Air, Again
The fate of Pioneer Investments [profile] is up in the air, again, thanks to big changes at its parent company.
CityWire Selector also covered the Pioneer deal news.
A year ago UniCredit and Spanish multinational bank Banco Santander unveiled a deal to combine their global asset management businesses, with backing from private equity firms Warburg Pincus and General Atlantic, and a few months later they signed a binding agreement. That deal would put the U.S. arm of Pioneer under a new Pioneer Investments holding company, with UniCredit owning 50 percent and the private equity firms splitting the rest. Meanwhile, for the non-U.S. UniCredit and Santander asset management businesses, the new holding company would own two-thirds and Santander would own a third.
Printed from: MFWire.com/story.asp?s=54111
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