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Title:New York Life Investments acquires Dexia Asset Management
Date of publishing:September 26, 2013
Hits:9373
Category:News
Language:English
Also available in the following languages:Dutch, French

New York Life Investments acquires Dexia Asset Management
September 26, 2013

On the 24th of September 2013, New York Life Investments announced it entered into a definitive agreement to acquire full ownership of Dexia Asset Management for EUR 380 million. The transaction remains subject to the approval of regulatory authorities but is expected to close on or about the 31st of December 2013.

The addition of Dexia Asset Management is expected to bring New York Life Investments’ total assets under management to more than $480 billion, and will likely propel its rankings into the top 25 global institutional money managers. Moreover, the acquisition is a major opportunity for New York Life Investments, part of America’s leading mutual life insurance company, to increase its footprint in the European and Australian markets.

Naïm Abou-Jaoudé, CEO of Dexia Asset Management, claims that the ‘multi-boutique’ business model of New York Life Investments will allow DAM to safe-keep the integrity of its investment processes, its culture, existing platforms and commercial presence in the market.