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Macquarie buys global, Japanese equity manager

Macquarie buys global, Japanese equity manager

Another asset manager has joined the buying spree.

Macquarie Investment Management said it has decided to buy equity manager ValueInvest Asset Management for an undisclosed amount.

The deal is expected to close in mid-2018.

Luxembourg-based ValueInvest is a specialised asset management business pursuing an investment strategy across global and Japanese equities. It manages approximately €4 billion ($4.9 billion) in assets.

The acquisition will see ValueInvest bring its team of 17 professionals to Macquarie.

Jesper Alsing, chief executive officer, and Jens Hansen, chief investment officer of ValueInvest will retain their positions. 

The company will join Macquarie’s multi boutique equity structure led by global equities head John Leonard.

Commenting on the deal, Ben Bruck, global head of Macquarie said: ‘Part of our strategy is to selectively expand and strengthen our global capabilities by adding the best investment talent to the business.

‘ValueInvest will be an excellent complement to our existing high-conviction equity strategies, and we believe Macquarie’s multi boutique equity structure and global investment platform will provide a natural fit for the ValueInvest team.’

In the last three months, there has been a few waves of Asia-focused acquisitions. Earlier this month, Fiera Capital agreed to buy Hong Kong-based Clearwater Capital for $21 million. 

The acquisition will see Clearwater’s $1.4 billion in assets under management added to Fiera Capital's private alternative investments division.

A day later, Nippon Life agreed to buy 85.1% stake in MassMutual International’s Japanese unit for a cash payment of 104.2 billion yen ($980 million). The deal is expected to finalize in May.

MassMutual Japan sells insurance to wealthy locals. Currently, it manages 2.8 trillion yen ($26.5 billion) in assets and 329 billion yen ($3.1 billion) in annualised insurance premium.

What’s more, South Korean asset manager Mirae Asset Global Investments is in the midst of buying New York-based exchange-traded funds (ETFs) provider Global X.

For Mirae Asset, this deal will see the company gain entry into US’ $3 trillion ETF sector, as well as gain access to Global X’s $10 billion in managed ETFs.

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