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Natixis Investment to acquire minority stake in WCM Investment

Natixis Investment Managers agreed to acquire a 24.9% stake in WCM Investment Management and become its exclusive third-party distributor, subject to limited exclusions.

The deal is expected to close in the second half.

Paul Black and Kurt Winrich will remain co-CEOs of WCM Investment, and there will be no changes to management or investment teams. The impact of the transaction on Natixis Investment's common equity tier 1 ratio is estimated to be about negative 15 basis points.

As of May 31, WCM Investment had $29 billion of assets under management. Natixis Investment, a subsidiary of the French banking group BPCE, has more than $1 trillion assets under management.

WCM Investment was advised by Cambridge International Partners, New York.