Amundi doubles stake in TOBAM to 20%

Strategic partnership in place since 2012

Daniel Flynn
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Amundi doubles stake in TOBAM to 20%

Amundi has increased its stake in Paris-based asset management firm TOBAM from 10.6% to 20%, strengthening the firms' existing strategic partnership.

The increase in Amundi's stake resulted from the disposal of shares from other shareholders.

Despite the increase, TOBAM's president Yves Choueifaty (pictured) and its employees will remain majority shareholders in the company.

The strategic partnership between the two companies was formed in 2012, based on a distribution agreement under which Amundi provided its clients access to TOBAM's services in exchange for a minority stake in the firm.

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Yves Perrier, chief executive officer at Amundi, said: "This strengthened partnership is in line with Amundi's policy of offering its clients the best areas of expertise.

"In addition to its in-house investment management, Amundi also leverages on product capabilities created through targeted partnerships.

"Since its inception, TOBAM has demonstrated excellence in its expertise and innovation. This deal also confirms Amundi's commitment to developing the asset management industry in the Paris market with its most innovative entrepreneurs."

Choueifaty said: "Our agreement with Amundi, a reference player in asset management, has been a springboard for the distribution of our products to prestigious clients on an international level.

"TOBAM now aims to leverage this positioning acquired with these emblematic institutions to broaden its distribution to new client segments. This partnership is the ideal way for us to achieve this goal."

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