The Cardano Group has acquired acquire Dutch sustainable investment manager ACTIAM from Athora Netherlands for an undisclosed amount.
The transaction is expected to close in the first quarter of next year, subject to regulatory approvals.
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ACTIAM, which manages £18.5bn in assets, caters to investors including insurance companies, pension funds, banks, and distribution partners.
Said to be a ‘pure-play’ sustainable asset manager, the firm’s investment approach includes support of the climate transition.
The firm also specialises in impact investing, especially in microfinance and SME finance. It launched its first impact investment fund in 2007.
The addition of ACTIAM is expected to scale up Cardano’s capabilities within investment funds, corporate sustainability analysis and ESG advice.
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By GlobalDataCardano Group CEO Michael de Lathauwer said: “ACTIAM’s approach is completely aligned with our own in this regard and we are delighted to welcome the ACTIAM team to the Cardano Group.
“As we start to work with our new colleagues, we look forward to introducing our pension fund and investment clients in the Netherlands and the UK to our broadened advisory and asset management proposition with ESG at its heart.”
Under the terms of the purchase, Cardano will enter into a ten-year strategic partnership with Athora Netherlands to manage approximately £13bn of assets.
The firm will continue to provide ACTIAM’S sustainable investment capabilities to Athora Netherlands’ differentiated product offering.
Athora Netherlands CEO Jan de Pooter commented: “We are pleased to have agreed on a ten-year partnership.
“In Cardano we see the ideal new owner for ACTIAM as we can leverage on the combined knowledge in the field of pensions, it will enhance the service and product offering to our customers and it is an excellent new home for the employees of ACTIAM.”
Following completion of the acquisition, Cardano will manage over £50bn of assets. It will have a workforce of over 500 people in the UK and the Netherlands across its advisory, investment management and DC businesses.
In June this year, JPMorgan agreed to buy San Francisco-based values-based investing expert OpenInvest for an undisclosed amount.
