Aegon Asset Management and La Banque Postale Asset Management entered into discussions to form a strategic money management partnership that will see Aegon take a 25% minority stake in LBPAM.
Through the partnership, the two companies will take advantage of LBPAM’s distribution network and Aegon Asset Management's investment capabilities, Aegon spokesman Thurstan Robinson said.
Negotiations should be concluded in the first quarter of 2015. Terms of the deal weren’t disclosed.
Aegon Asset Management currently has €290 billion ($356 billion) in assets under management; LBPAM has €150 billion in AUM. LBPAM specializes in fixed income but also invests in equities, money market funds and diversified assets.