CDC Asset Management acquired Nvest Cos. in a deal that will give the combined firm $300 billion in assets under management, according to a statement from Nvest. The deal will enable Nvest, to be renamed CDC Asset Management-North America, to market its products in continental Europe and sell CDC Assets European equity and fixed-income strategies in North America, said Peter S. Voss, Nvest CEO, in a statement. Mr. Voss was appointed CEO of the North American business.
CDC Asset is managing $170 billion; Nvest had $134 billion in assets under management.
Company officials could not be reached for further comment.