Man Group, a UK-based worldwide investment management company, has just completed its acquisition of a 51% participation in Asteria Investment Managers, a Geneva-based, ESG-oriented asset manager, from the Italian private bank Fideuram – Intesa Sanpaolo Private Banking.
With Fideuram retaining a 49% minority stake, the transaction transforms Asteria into a joint venture aiming at developing technology-enabled alternative and long-only investment strategies, combining Man Group’s expertise in bespoke portfolio solutions, the strong investment management capabilities of both Man Group and Asteria, and Fideuram’s private banking expertise, financial advisor network and client base.
Kellerhals Carrard advised Man Group on this transaction. The M&A team was composed of partners Frédéric Rochat (pictured left) and Jean-Luc Chenaux (pictured right), Anne-Gabrielle Piaget (counsel), Alix Lauener and Robin Mainetti (associates); the regulatory/FINMA aspects were handled by Dominik Oberholzer (partner) and Sarah Mostafa (senior associate); the anti-trust aspects were dealt with by Christophe Rapin (partner) and David Ginolin (associate) and the tax aspects by Serge Migy (partner) and Brian Jurt (associate). The team advised the company alongside the London-based global law firm of Herbert Smith Freehills, while Fideuram was advised by Pedersoli in Italy and Borel & Barbey in Geneva.