PARIS--(BUSINESS WIRE)--Amundi, Eurazeo and La Maison are the founding shareholders of IM Square, Europe’s pioneering investment and development platform for the asset management industry. The first investment should take place as early as Q4 2015.
Philippe Couvrecelle, founder of PTH Conseil and former Chairman of the Board of Edmond de Rothschild Asset Management, and his partner, Jean Maunoury, are the architects behind this project: a global platform which will acquire minority stakes in the capital of entrepreneurial asset management companies. IM Square will help them grow, principally outside of their domestic market, in respect with their own culture as a minority shareholder.
IM Square targets entrepreneurial investment companies that are already mature, profitable, and recognised in their local market - primarily in the US, but also in Europe and in Asia. These companies manage between $1 billion and $15 billion, invest principally in traditional and liquid asset classes, and offer a high growth potential. To date, few dozen companies selected from an investment universe of 1,000 asset managers feature in IM Square’s target pipeline.
In addition to providing financial backing, IM Square will assist these asset management companies – known as “affiliates” - with their international business development and the expansion of their client base. The platform will also support the affiliates as they manage their strategic and organisational changes, focusing on distribution and marketing, organisation and capital transfer.
Amundi, Eurazeo and La Maison have agreed to commit 40 million euros to finance IM Square’s initial investments. The platform aims to invest a minimum of 250 million euros within the next 2 to 4 years. Going forward, IM Square may welcome a few more large shareholders and finance its growth with a possible IPO.
Philippe Couvrecelle, founder of IM Square, says: “This highly innovative project for the asset management industry combines financial and industrial partnerships while respecting individual companies’ mind-sets. The strength and diversity of our initial pool of shareholders will enable the platform to operate independently, to the benefit of our affiliates. The objective is to create a virtuous ecosystem bringing together entrepreneurial asset managers, international distributors, and investors.”
With over 950 billion euros under management, Amundi has been the leading asset manager in Europe since its launch, and ranks within the top ten investment companies worldwide. IM Square’s future affiliates will be able to leverage on Amundi’s technical expertise, global distribution capacity and extensive international presence to drive growth.
Eurazeo is one of Europe’s leading listed investment companies, managing over 5 billion euros across a diverse range of assets. The company will support IM Square by providing human and financial resources and by sharing its unique experience as a long-term private equity investor.
Marc Frappier, Managing Director at Eurazeo adds: “We believe the financial services industry - and asset management in particular - is a promising segment for investment with robust fundamentals. The launch of IM Square is a wonderful initiative that combines growth and entrepreneurship. We look forward to supporting its founders by providing the long-term perspective and financial strength that are needed in this market”.
La Maison is an investment club launched in 2014 under the impetus and leadership of Michel Cicurel and Marc Levy. La Maison brings together a number of prestigious private investors in France and abroad alongside the Groupe Dassault, its leading shareholder. The entrepreneurial spirit which runs through this new group, combined with the outstanding experience and professional network of its directors and shareholders, gives a unique dimension to IM Square’s fundraising.
Michel Cicurel, Chairman of the Board of La Maison, says: “The team at IM Square, which we have known for a number of years, has proven its ability to identify and collaborate with esteemed asset management firms in the US and in Europe - companies that have succeeded in delivering superior performances and in creating wealth. IM Square will enable its shareholders to benefit from this growth potential while diversifying risk”.
Amundi is the European leader and in the Top 10 worldwide in the asset management industry(1) with AUM of more than €950 billion worldwide(2).
Located at the heart of the main investment regions in more than 30 countries, Amundi offers a comprehensive range of products covering all asset classes and major currencies.
Amundi has developed savings solutions to meet the needs of more than 100 million retail clients worldwide and designs innovative, high-performing products for institutional clients which are tailored specifically to their requirements and risk profile.
The Group contributes to funding the economy by orienting savings
towards company development.
1. Largest European asset manager based on total assets under Management (AUM)- Source IPE “Top 400 asset managers” published in June 2014 and based on AUM as at December 2013, all AUM having been re-calculated by Amundi to exclude (i) Wealth Management activities and (ii) asset managers having their parent/holding company outside Europe.
2. Amundi Group figures as of 31 March 2015.
With a diversified portfolio of more than 5 billion euros in assets,
Eurazeo is one of the leading listed investment companies in Europe. Its
purpose and mission is to identify, accelerate and enhance the
transformation potential of the companies in which it invests. The
Company covers various private equity segments through its four
divisions: Eurazeo Capital, Eurazeo Croissance, Eurazeo PME and Eurazeo
Patrimoine. Its solid institutional and family shareholder base, robust
financial structure free of structural debt, and flexible investment
horizon enable Eurazeo to support its companies over the long term.
Eurazeo is notably either a majority or key shareholder in Accor, ANF
Immobilier, Asmodee, Desigual, Elis, Europcar, Foncia, Moncler and
Fonroche Energie and IES Synergy through Eurazeo Croissance, as well as
Dessange International, Léon de Bruxelles and Colisée Patrimoine through
Eurazeo is listed on NYSE Euronext Paris.
ISIN: FR0000121121 - Bloomberg: RF FP - Reuters: EURA.PA
About La Maison
La Maison is a private investment club created in 2014 by Michel Cicurel and Marc Lévy, former Managing Director of Edmond de Rothschild France. La Maison brings together several European and international high-net worth families. Leveraging on the experience of the team and of its network of investment partners, but more importantly, on the diversity and combined expertise of its shareholders, La Maison is able to cover a wide range of high yielding investments.