La Française, a French international multi-class asset manager, has signed a strategic partnership with investment management firm Alger Management to take a stake in Alger’s UK business.
La Française will take a 49.9% interest in Alger, an affiliate of US-based Fred Alger Management, with two of its executives comprising a part of the newly appointed five member-Board of Alger.
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Through this alliance, La Française, with the support of its majority shareholder, Credit Mutuel Nord Europe, will provide distribution capabilities and acceleration capital, while Alger will contribute to growth equities.
La Française chairman Patrick Rivière said: "Together, with Alger, we’ll be developing new markets and building on its well-merited reputation among American retail and institutional investors as a high-standing and innovative asset manager.
"These past three years of intensive international development have led to this ultimate partnership, completing our now established equities expertise."
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