London-based investment manager M&G has agreed to buy a majority stake in impact investor responsAbility Investments AG, for an undisclosed amount.
ResponsAbility, headquartered in Zurich, invests in private debt and equity across emerging markets and has invested more than $11 billion in private assets since its inception in 2003.
M&G said the acquisition is in line with plans to grow its sustainable investment capabilities and reach international investors. The firm will initially acquire 90% of the issued share capital of the business and the remaining 10% in due course.
“This acquisition strengthens M&G’s position in the rapidly growing market for sustainable investments, especially in the exciting area of emerging markets. It also accelerates the growth of our private assets franchise and augments our European institutional distribution,” said John Foley, chief executive of M&G.
ResponsAbility’s 200 employees will join M&G upon completion of the deal, which is subject to regulatory approval. The business will remain headquartered in Zurich and continue to serve its clients and portfolio companies across emerging markets.
The business will continue to be managed by its existing team, led by chief executive Rochus Mommartz.
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