NN Group, the Dutch insurer, has announced it is “reviewing strategic options” for its investment management business, paving the way for yet another deal in the European fund management sector.
In a statement on 26 April, NN said the review would cover a “broad range of options” including a merger, joint venture or partial divestment.
NN Investment Partners oversees around €300bn of assets under management across fixed income, private debt, equity and multi-asset solutions.
“The current review is aimed at assessing the opportunities to create a broader platform to enable NN IP to accelerate its growth,” NN said in the statement.
“In considering different strategic alternatives, particular focus will be given to how NN IP can continue to provide the best investment offering and service to NN’s insurance business and asset management clients in a rapidly evolving industry.”
A potential sale of NN Investment Partners would mark the latest fund management transaction in Europe.
French bank Societe Generale announced on 7 April that it had entered exclusive talks with Amundi to strike a €825m deal for its asset management business.
The deal will see Lyxor offload its passive and active management capabilities for institutional clients, including its exchange traded funds business and the sales and support functions associated with these activities.
Ameriprise Financial, the parent company of Columbia Threadneedle, announced on April 12 it had acquired the European asset management business of BMO Financial Group for £615m. The deal will add more than $120bn to the amount of money Columbia Threadneedle oversees in the region.
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