French boutique YCAP Asset Management has agreed to acquire the investment management business of Franco-American firm FOURPOINTS Investment Managers for an undisclosed sum.
FOURPOINTS has operations in Paris and New York, and employs11 staff. The firm manages European and US equities for institutional investors, family offices, and private banks. As of 31 December 2016, the firm managed over €350m in assets.
The deal will boost YCAP’s assets under management to €1.5bn. YCAP also plans to take a stake in FOURPOINTS.
YCAP president Lionel Tangy-Malca said: “We are excited to acquire Fourpoints IM’s investment management business in order to develop our expertise in equity management.”
The transaction is expected to be wrapped up in the first quarter of 2017, subject to approval from regulatory bodies in France, Luxembourg and the US.
FOURPOINTS president Beatrice Philippe and managing director Michel Raud said: “We are delighted that our team is joining YCAP AM, an entrepreneurial company that shares our professional and ethical values. The two companies’ varied, but complementary expertise across different asset classes will allow the combined entity to develop further.”