60 State Street
Boston, MA 02109
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Contact
Main Phone: 617-442-4947
Web Site:
http://www.pioneerinvestments.com/ria
Mutual Fund Brand(s)
Pioneer Funds
Research Links
Stock Data: SEC Filings | Yahoo! Quote
SEC Fund Filings by CIK
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Background:
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On April 16, 2024, the Amundi team unveiled a non-binding memorandum of understanding with Victory Capital, a publicly traded, multi-boutique asset manager in the U.S. The proposed deal would involve Amundi taking a 26.1-percent stake in Victory in exchange for Victory buying Amundi's U.S. business, plus a 15-year distribution deal between the two firms.
Amundi U.S. is the U.S. arm of Paris-based Amundi, a publicly traded asset manager that is majority-owned by Crédit Agricole, a French bank.
A former Barron's reporter1 and WWI aviator2 Philip Carret launched the Fidelity Mutual Trust in 1928 after managing money for his friends and family. The initial effort evolved into Pioneer Investments.
In 1967, Pioneer became the first investment management firm to launch mutual investments in Italy; in 1969, Pioneer Fund became the first foreign investment fund in Germany. And in 1992, Pioneer marketed the first open-ended fund in Poland.
In October 2000, UniCredito Italiano Group (now called UniCredit Group), Italy's second largest banking group, acquired Pioneer for $1.2 billion. Pioneer merged with UniCredit's firm Europlus to create a global asset management firm.
In September 2005, Pioneer acquired the mutual fund business from the Birmingham, Alabama based AmSouth Bancorporation. Of the 23 former AmSouth mutual funds that went to Pioneer through the deal, 16 were reorganized into existing Pioneer funds with generally similar investment objectives and strategies. The remaining seven funds were renamed and became new Pioneer funds. In November of 2006, AmSouth merged with Regions Financial Corp, another Birmingham-based bank, and assumed the Regions name.
In January 2009, Pioneer inked a deal to take over the remainder of Regions' mutual fund business. (In 2008, Regions moved management of some bond funds to Hyperion-Brookfield Asset Management.) The 11 RMK funds covered in the Pioneer deal collectively held $2 billion in AUM.
In 2010, UniCredit executives publicly acknowledged exploring strategic options for Pioneer, then reversed course in 2011.
In 2015, UniCredit and two private equity fims, General Atlantic and Warburg Pincus, unveiled a deal to put Pioneer's U.S. business under a new holding company owned by the trio while combining Pioneer's non-U.S. business with that of Santande Asset Management (with the new holding company owning two-thirds and Banco Santander owning a third. Yet the deal officially fell through in 2016.
Later in 2016, French multinational Amundi officially agreed to buy Pioneer from UniCredit, after reported interest from Aberdeen, Allianz, Ameriprise, Anima, Axa, CDP, Generali, Macquarie, Natixis, and Poste Italiane. In July 2017, Amundi officially closed on its purchase of Pioneer, combining the U.S. arm with Amundi Smith Breeden to form Amundi Pioneer Asset Management.
At the beginning of 2021, Amundi rebranded its U.S. business, Amundi Pioneer, as Amundi US, while keeping the Pioneer brand on its mutual funds.
1Outstanding Investor Digest, "Phillip Caret Tribute"
2The Great War Society, "Notables of the AEF"
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Sponsored Opportunities
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Key People:
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Lisa Jones
President and CEO, Pioneer Global Asset Management [Pioneer Investments] | Gregg Dooling
CFO, Pioneer Investment Management USA Inc. | Jack Cogan
Chairman Emeritus, Pioneer Funds | Bernardo Mingrone
Chief Financial Officer, Pioneer Investments
Pioneer Global Asset Management |
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