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Money Management

Natixis acquires European credit manager MV Credit

Jean Raby, CEO, Natixis Investment Managers

Natixis Investment Managers acquired European credit specialist MV Credit, CEO Jean Raby said.

MV Credit focuses on upper-midcap private debt and has invested more than €5 billion ($5.8 billion) in almost 500 debt financing deals. The firm was founded in 2000.

MV Credit will remain fully autonomous, but will access Natixis Investment Managers' centralized global distribution capabilities. There will be no changes to its operations, branding, staffing or investment strategies. The existing management team will continue to lead the firm.

"These transactions, we see them as a partnership," Mr. Raby said in a telephone interview. "It takes time to get to know each other, to develop … to feel that, with us, they have the right partners."

He said the two firms had been talking for the past six months or so. "We know they have been in discussion with other parties, but we quickly developed a rapport, commonality of views … they saw in us a way to develop. (Natixis Investment Managers') centralized distribution (has the potential) to really change the order of magnitude of their business," Mr. Raby said.

MV Credit is consistent with Natixis Investment Managers' active style of money management, with focus on generating value. The firm has clients across Europe, the U.S. and Asia.

Regarding any future acquisitions, Mr. Raby added that the firm will "continue to look to expand our capabilities." Alternatives growth, Asia and adding capacity where the firm may be constrained are continuing themes, he said.

"We are pleased to become an affiliate of one of the world's leading asset managers," MV Credit CEO Frederic Nadal said in a news release. "The multiaffiliate model offers tremendous growth opportunities, allowing us to access a truly global distribution network and the support of a large financial services group while retaining our full autonomy and our singular focus on maximizing returns for our investors."

The deal is subject to regulatory approach by the U.K.'s Financial Conduct Authority. Financial terms were not disclosed, and details on from whom the firm was acquired could not be learned by press time.

Natixis Investment Managers has 26 investment manager affiliates across the globe running more than $1 trillion in assets under management. MV Credit's current AUM could not be learned.