Natixis Global adds fixed-income manager McDonnell
By Kevin Olsen | October 16, 2012 3:48 pm
Natixis Global Asset Management acquired fixed-income manager McDonnell Investment Management, confirmed David Snowden, Natixis spokesman.
Terms of the transaction were not disclosed. The deal is expected to close toward the end of the year, Mr. Snowden said.
The move expands Natixis' offerings for investors seeking exposure to core fixed income and municipal bonds.
“The opportunity to collaborate on a municipal bond product was a big part of what attracted us to them,” Mr. Snowden said in a telephone interview.
McDonnell had $13.5 billion in total assets under management, $7.2 billion of it institutional, as of Sept. 30 and is known for its specialization in fixed-income investment management, including strategies in core bonds, municipal bonds, limited duration, multisector and liability targeted benchmarks.
McDonnell will continue to operate under its brand name with no change in management or professional staff.
“Bringing McDonnell's fixed-income and municipal-bond expertise into the NGAM family is a positive step toward fulfilling a critical need for clients who are focused on durable portfolio construction,” said Pierre Servant, CEO of NGAM, in a news release.
NGAM had $711 billion in AUM as of June 30.