Man Group has taken a 51% stake in asset management firm Asteria Investment Managers, a Geneva-based group which is focused on ESG investing.
The deal was first announced back in June, but regulatory approval for the partnership was only just granted. Fideuram - Intesa Sanpaolo Private Banking (F-ISPB) retains the remaining 49% share in Asteria. Along with its controlling stake, Man Group will also acquire Asteria's existing fund range. Man Group AUM surpasses $160bn for the first time Man Group said the deal was the "first step" in its new partnership with F-ISPB, which will focus on creating a range of technology-enabled alternative and long-only investment strategies. Steven Desmyter, president at Man Group, s...
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