Paris-based iM Global Partner agreed to acquire a 20% stake in high-conviction equity manager Zadig Asset Management to boost its multiboutique structure, a spokeswoman said Wednesday.
Terms of the deal were not disclosed. Zadig, with $1.8 billion in assets under management and 15 employees based in London and Luxembourg, will continue to manage assets independently.
The acquisition is subject to regulatory approvals from the Commission de Surveillance du Secteur Financier, Luxembourg's regulator.
"We are convinced that our investment in Zadig Asset Management will offer clients worldwide unique access to one of the best performing European equity fund manager," said Philippe Couvrecelle, founder and CEO of iM Global Partner, in a joint news release.
Laurent Saglio, founder and partner at Zadig Asset Management said the expansion "will be true to our investment philosophy: active and concentrated stock-picking to generate alpha in all market conditions."
As of Dec. 31, iM Global Partner had $11.7 billion in assets under management.