Gartmore Global Investments acquired Groupama Asset Management, a subsidiary of parent Groupama SA, according to a release from Gartmore. Terms were not disclosed. The transaction is expected to close in the second quarter. Groupama Assets founders, portfolio managers Mark Bronzo, Daniel Portnova and Joseph OConnor, will continue to manage their respective portfolios. Personnel changes are not anticipated. Groupama Asset Management manages $1.2 billion in growth equity and fixed-income assets for retail, institutional and high-net-worth investors.
Groupama is the third acquisition Gartmore has made in its emerging managers group. Last year, Gartmore acquired NorthPointe Capital and Coda Capital. Groupama will continue to operate at full staff and will eventually be rebranded under Gartmore, said Bill Santos, Gartmore spokesman.