French investment manager iM Global Partner has agreed to purchase a 20% interest in equities manager Zadig Asset Management.
The deal will offer the French firm its first stake in a European equities specialist.
With the transaction, the asset manager count in iM Global Partner’s multi-boutique platform will increase to six.
Zadig will retain its operational independence, continuing to prioritise concentrated stock picking for running its portfolios.
Zadig employs 15 staff in London and Luxembourg. It caters to institutional investors, private banks and family offices, managing $1.8bn in assets.
The business was set up by serial entrepreneur Laurent Saglio in 2005.
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Saglio stated: “This expansion will be true to our investment philosophy: active and concentrated stock picking to generate alpha in all market conditions.
“For this, iM Global Partner is an excellent partner, bringing distribution, business support and a sophisticated appreciation of the investment management industry.”
The deal, whose value was not revealed, currently awaits regulatory nod.
iM Global Partner founder and CEO Philippe Couvrecelle said: “We are convinced that our investment in Zadig Asset Management will offer clients worldwide unique access to one of the best performing European equity fund manager.”
iM Global Partner’s main offices are located in Paris, London and Philadelphia. At the end of December 2019, the firm oversaw $11.7bn in assets.
Last April, the firm acquired a 40% stake in California-based value equities manager Scharf Investments.
In 2018, iM Global Partner acquired a 45% stake in American liquid alternatives manager Dynamic Beta investments.