Madison Asset Management on Tuesday announced it had acquired Hansberger Global Investors' international growth equity business from Hansberger parent Natixis Global Asset Management.
Terms of the deal, which is expected to close this summer, were not disclosed.
The business, led by Tom Tibbles, chief investment officer, will be called Hansberger Growth Investors and will be a subsidiary of Madison Asset Management. The nine-person investment team will have an undisclosed equity stake in the business, said Larry Tabak, Madison vice president. The team will keep its base in Toronto.
The $4 billion in assets from Hansberger's growth business will raise total AUM at Madison to $20 billion.
RBC Capital Markets advised Natixis on the deal. Madison was not advised on the deal, Mr. Tabak said.
Hansberger's international value equity business, based in Fort Lauderdale, Fla., remains a Natixis subsidiary.