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July 7, 2020

Candriam to take over Rothschild & Co alternative multi-asset unit

Rothschild & Co Asset Management Europe has agreed to transfer its €350m alternative multi-asset management unit to asset manager Candriam.

The deal covers France and Luxembourg-domiciled open-ended funds. At the same time, it includes dedicated institutional funds.

Candriam will assume responsibility for the alternative investment funds of funds as well as a microfinance fund.

The move is pending regulatory approvals.

Rothschild & Co Asset Management Europe managing partner Pierre Baudard said: “This agreement will enable our clients to continue to benefit from expertise and know-how to support their investments in this asset class over the long term.”

As part of the deal, Candriam will absorb the alternative multi-asset management teams of Rothschild & Co Asset Management Europe.

Candriam deputy CIO Fabrice Cuchet said: “This deal will enable CANDRIAM to reinforce its value proposition and enter a new development phase in the alternative investment space, which should prove particularly appealing to investors in the current environment.”

Candriam provides investment solutions in bonds, equities, absolute performance strategies and asset allocation. It has offices in Brussels, Paris, Luxembourg and London and employee strength of over 600.

At December-end of 2019, the firm managed around €130bn in assets.

Rothschild & Co Asset Management Europe is the specialised asset management arm of the Rothschild & Co group. It offers personalised asset management services to institutional investors, financial intermediaries and distributors.

It has a workforce of around 170 and manages over €21bn in assets.

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