Dutch wealth manager Van Lanschot Kempen has entered into a deal to purchase Robeco’s online distribution platform that offers investment solutions.
Robeco is an investment management company that has nearly €4.7bn of asset under management (AuM).
The new deal is part of Robeco’s to concentrate primarily on its core business in Netherland as well as wholesale and institutional markets worldwide.
Earlier, the firm suspended its fiduciary management and private equity business.
The deal expands Van Lanschot Kempen’s business and meet growing demand for online investment solutions.
Following the completion of the deal, Robeco Retail, the firm’s online distribution platform for investment services, will be integrated with Van Lanschot Kempen’s online savings and investment platform Evi van Lanschot.
Employees of Robeco Retail Nederland will also become part of Van Lanschot Kempen.
The deal allows Evi van Lanschot to have around €6bn in assets under management (AuM). It also enables the unit to deliver Robeco’s investment fund offerings and solutions from Van Lanschot Kempen.
Both firms plan to launch the combined entity in 2025 after completing the process of integration within two years.
The acquisition, which is yet to receive regulatory approvals, is scheduled to be closed by June this year.
Financial terms of the deal were not revealed.
Van Lanschot Kempen management board chair Maarten Edixhoven said: “This acquisition provides an opportunity for us to fuel our growth aspirations for Evi van Lanschot.
“The partnership will turn Evi van Lanschot into the leading platform for online investment services in the Netherlands.” The latest transaction follows an announcement made by Van Lanschot Kempen last month about the acquisition of remaining 30% stake in wealth management firm Mercier Vanderlinden.