Money management platform iM Global attracts new investors – Pensions & Investments

Private equity firm IK Investment Partners and Luxembourg-based manager Luxempart agreed to acquire minority stakes in iM Global Partner from its largest shareholder Eurazeo.

Eurazeo sold a “significant minority stake” in iM Global, a $19 billion global asset management platform, to IK Investment Partners, spokesmen confirmed. The size of the stake was not disclosed.

Luxempart, which has €1.6 billion ($1.9 billion) in assets under management, will take a 7% stake in iM Global from Eurazeo for €25 million, a news release said Thursday.

Eurazeo’s stake in iM global was 58.2% as of April 1. Eurazeo’s remaining stake and further details about the deal could not be learned.

Following the transaction, French private equity firm Eurazeo will remain a controlling shareholder and will continue to support the company, according to a separate news release.

IM Global Partner’s other founding shareholders, alongside Eurazeo, were Amundi and private high-net-worth investment club La Maison. At the same time as the Eurazeo stake sale, La Maison sold its stake, according to the news release.

“We were impressed by the growth trajectory, quality of the teams, international nature and development project of iM Global Partner,” said Thomas Grob, partner at IK Investment Partners, in the release.

Olaf Kordes, managing director of Luxempart, added in the release: “We have been convinced by the quality and vision of the management team. We are very keen to continue supporting the development of this leading player with significant international ambitions. This operation is perfectly in line with Luxempart’s revised strategy, which aims to support first-rate management teams in their development projects over the long term.”

The deal is subject to regulatory conditions.

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