Natixis Investment Managers has acquired a 24.9% stake in WCM Investment Management, a $29bn US asset manager, while also agreeing to become their exclusive third-party distributor.
The move is expected to complete in the second half of the year and remains subject to regulatory and customary closing conditions.
The exclusive partnership will see Natixis IM distribute WCM's investment strategies globally while the firm will retain its autonomy over the management of the business, the investment process and philosophy and its culture.
There will be no changes to the firm's management team with Paul Black and Kurt Winrich remaining as co-CEOs.
The firm runs a number of actively managed equity strategies with a global growth approach.
Jean Raby (pictured), CEO of Natixis IM, said: "We are pleased to become the global third-party distributor for WCM, whose strong track record and proven investment process make them an excellent partner and strong addition to our global offering.
"Our investment in WCM exemplifies our commitment to adding high-conviction, highly active investment managers to our multi-affiliate platform in order to provide our clients with a wide range of unique investment opportunities."
Black commented: "After a lot of thought and collective input, we concluded the smartest way to enhance our stability, and to guard our investment temperament, was to partner with a world-class global distribution platform.
"For some time now we have known that diversifying the product mix within the firm - by raising the profile of our global strategy, our emerging markets strategy, and various other investment strategies - is the key to making this happen."
In October last year, the firm acquired a majority stake in Australian asset manager Investors Mutual for around $121m, as part of the firm's Asian expansion plans.
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