View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 4, 2014updated 04 Apr 2017 2:32pm

New York Life Investments completes acquisition of Dexia Asset Management

New York Life Investments, a US-based fund manager, has completed the acquisition of Dexia Asset Management for €380 million (US$587 million).

By Verdict Staff

New York Life Investments, a US-based fund manager, has completed the acquisition of Dexia Asset Management for €380 million (US$587 million).

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

The acquisition will add US$100 billion in assets under management to New York Life Investments, thereby bringing its total assets under management to US$511 billion.

The acquisition includes Dexia’s Australian boutique funds management business, Ausbil, which will join New York Life Investments diversified family of investment boutiques.

Under the deal, Ausbil will join New York Life Investments’ diversified group of boutique investment managers.

As part of the deal, Naïm Abou-Jaoudé will continue in his role as CEO and chairman of the Executive Committee of Dexia Asset Management and Paul Xiradis will remain CEO of Ausbil.

Additionally, Yie-Hsin Hung will become chairman of the board of directors of Dexia Asset Management and Naïm Abou-Jaoudé will join the executive committee of New York Life Investment Management International as vice chairman.

John Kim, vice chairman, New York Life, said: "Expanding our asset management business in Europe and Australia represents a significant growth opportunity for New York Life to become a key player in the global asset management arena, adding important scale and geographical diversity to our business."

"The acquisition of Dexia Asset Management, a robust organization with a diverse array of products and broad distribution adds quality investment solutions for our clients on a global basis, and represents a milestone in the growth of New York Life Investments," he added.

Yie-Hsin Hung, co-president of New York Life Investment Management said: "With our expanded business, our clients now have access to the breadth and depth of European and Australian markets through best-in-class products, global capabilities and tremendous talent and insight on the ground."

Xiradis said: "There will be no change operationally at Ausbil. We will maintain our independence and autonomy while enhancing our ability to strategically grow our business and continue providing the excellence we have become known for."

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International