Natixis Global Asset Management has entered into exclusive negotiations with TA Associates, Banca Leonardo and the managers of DNCA Finance to acquire their equity interests in Paris-based investment management firm DNCA.
Natixis plans to acquire 71% of DNCA for €549 million ($627 million). Natixis spokesman David Snowden said the deal is expected to close in mid-2015.
DNCA's management would remain a shareholder alongside Natixis Global Asset Management. However, beginning in 2016, a progressive withdrawal mechanism would gradually increase Natixis Global Asset Management's stake in DNCA to 100%.
DNCA would join Natixis' independent affiliate managers and provide expertise in European long-only and absolute-return equities, multiasset strategies, convertible bonds and eurozone bonds. Natixis uses an independently managed multiaffiliate model, so DNCA's investment approach and culture would not change, Mr. Snowden said.
Natixis Global Asset Management had €735.5 billion ($890 billion) in assets as of Dec. 31; DNCA had €14.6 billion in AUM as of Jan. 31.
Bloomberg contributed to this story.