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After reported interest from Aberdeen, Allianz, Ameriprise, Anima, Axa, CDP, Generali, Macquarie, Natixis, Poste Italiane, the French multinational Amundi outed itself as a Pioneer bidder in October 2016. Amundi and UniCredit publicly agreed on a deal in December 2016, and the deal officially closed in July 2017. Pioneer Investments combined with Amundi's prior U.S. arm, Amundi Smith Breeden, to form Amundi's new U.S. arm, Amundi Pioneer Asset Management.|
In April 2015, Pioneer's then-parent, UniCredit, unveiled a deal that would puts the U.S. side of Pioneer under a holding company jointly owned by UniCredit and two private equity firms, Warburg Pincus and General Atlantic. Pioneer's non-U.S. operations would combine with Santander Asset Management, and the same holding company company would own two-thirds of that company while Banco Santander would own a third. Yet that deal was reportedly put on hold in May 2016, and the deal officially fell apart in July 2016.
On April 21, 2011, UniCredit officials said they decided to hold on to Pioneer.
Executives at UniCredit Group said on May 12, 2010 that they are exploring all strategic options for Pioneer Investments. As of August the pitch book was reportedly ready for review by potential bidders.
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.
1Outstanding Investor Digest, "Phillip Caret Tribute"
2The Great War Society, "Notables of the AEF"
President and CEO, Pioneer Global Asset Management [Pioneer Investments]
CFO, Pioneer Investment Management USA Inc.
Chairman Emeritus, Pioneer Funds
Chief Financial Officer, Pioneer Investments
Pioneer Global Asset Management