Columbia Threadneedle Investments has completed the acquisition of BMO Global Asset Management’s Europe, Middle East and Africa business, boosting the firm’s total European assets to £530 billion (€617 billion).
Following the initial announcement in April this year, the acquisition was completed on November 8 for £615 million and added £97 billion in AUM to Columbia Threadneedle.
The acquisition will strengthen Columbia Threadneedle’s offering in responsible investment, alternatives, and solutions in the European and global asset management markets.
The combined businesses will manage total assets of £36 billion in responsible investment funds and strategies across asset classes, a global alternatives business of over £34 billion including real estate in the UK, Europe and the US, and infrastructure, private equity, and hedge fund offerings. Alongside this, the firms’ solutions business will represent the point of entry of more than £145 billion of client assets.
The acquisition will also add the BMO GAM managed investment trusts and its multi-manager range to Columbia Threadneedle’s offering, with certain BMO US asset management clients moving to Columbia Threadneedle, at a later date subject to client consent.
Nick Ring, CEO in the region at Columbia Threadneedle, said: “This strategically important acquisition accelerates our growth in the Emea region and secures our position as a significant global asset manager.
“Our combined team of more than 2,500 people share a client-centric culture, a collaborative and research-based investment approach, and a long-held commitment to responsible investment principles. Together, we look forward to embracing our role as active investors to drive change, deliver client outcomes and continue to make our own contribution to a sustainable future.”
He added: “As we’ve begun to work together, we’re excited by the opportunity to combine our considerable resources and bring greater depth and breadth to our client offering.”
The combined firm will have more than 2,500 people including over 650 investment professionals based in North America, Europe, and Asia.
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