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Money Management

Natixis acquiring a stake in WCM Investment

Natixis Investment Managers will acquire a 24.9% minority stake in active global growth equity specialist WCM Investment Management, confirmed Elizabeth Bartlett, a Natixis spokeswoman.

Terms of the deal, which is expected to close in the second half of this year, are not being disclosed, Ms. Bartlett said.

WCM will continue to operate autonomously under its own name and will strike a long-term exclusive distribution agreement with Natixis.

"Our investment in WCM exemplifies our commitment to adding high-conviction, highly active investment managers to our multiaffiliate platform in order to provide our clients with a wide range of unique investment opportunities," Natixis CEO Jean Raby said in a joint news release from the two companies.

"We're really excited to enter into this partnership with Natixis," Paul Black, WCM's co-CEO, said in the release. "After a lot of thought and collective input, we concluded the smartest way to enhance our stability and to guard our investment temperament was to partner with a world-class global distribution platform."

WCM managed $29 billion as of May 31.

Natixis has 26 affiliated money managers on its investment platform that managed an aggregate $1 trillion as of March 31.