Macquarie Investment Management is increasing its investment capabilities via the acquisition of a $6 billion specialist asset manager based in Luxembourg.
The investment management division of Macquarie Group has entered an agreement to acquire ValueInvest Asset Management; a value-oriented investor across global and Japanese equities, located in the Grand Duchy.
For an undisclosed amount, ValueInvest will join Macquarie's stable of boutiques, led by global head of equities John Leonard.
Global head of Macquarie Investment Management Ben Bruck said the acquisition forms part of the business' strategy to expand and strengthen global capabilities with the best talent. It also demonstrates Macquarie's ongoing commitment to Luxembourg.
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"Investors today need skilled active managers across a diverse range of asset classes ... ValueInvest will be an excellent complement to our existing high-conviction equity strategies, and we believe Macquarie's multi-boutique equity structure and global investment platform will provide a natural fit for the ValueInvest team," he said.
Founded in 1998, ValueInvest comprises 17 investment professionals led by chief executive Jesper Alsing and chief investment officer Jens Hansen, both of which will remain in their roles.
Alsing said ValueInvest is excited to be joining a firm with such a strong investment culture.
"We were attracted by Macquarie's breadth and resources as a leading global asset management company which will enable us to better serve our clients. We will remain strongly aligned with our clients, focused on delivering strong risk-adjusted returns over the long term," he said.
The deal is expected to be finalised by mid-2018.