Austria-based C-QUADRAT Investment AG agreed to acquire a 51% stake in French asset manager Advenis Investment Managers for €2.4 million, financed through equity and external funds.
C-QUADRAT Investment said the move boosts its regional diversification through entry into the €3.5 trillion-worth French asset management market. The deal is expected to be closed in the first quarter of 2018 and remains subject to approval by the French Autorité des marchés financiers, among other conditions.
Advenis, with €228 million in AUM, focuses on equity and fixed-income funds, multi-asset class funds and fund of funds.
