Candriam To Take Over Rothschild's Alternative Multi-Asset Business
New York Life subsidiary Candriam and Rothschild & Co Asset Management Europe have signed an agreement to transfer Rothschild & Co Asset Management Europe’s alternative multi-asset management business to Candriam. The transaction concerns open-ended funds domiciled in France and Luxembourg and dedicated institutional funds, representing total assets under management of almost 350 million euros.
CANDRIAM Deputy CIO Fabrice Cuchet states: “We are proud to have been chosen by Rothschild & Co Asset Management Europe to take over its alternative multi-asset management business. This deal will enable CANDRIAM to reinforce its value proposition and enter a new development phase in the alternative investment space, which should prove particularly appealing to investors in the current environment.”
Rothschild & Co Asset Management Europe Managing Partner Pierre Baudard adds: “We are pleased to be partnering with a leading player in alternative multi-management. This agreement will enable our clients to continue to benefit from expertise and know-how to support their investments in this asset class over the long term.”
The alternative investment funds of funds and a microfinance fund will be transferred to Candriam, which will become the asset management company for these funds, subject to obtaining the required approvals. Candriam will also absorb the investment teams running the funds from Rothschild.
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