Rothschild, Candrium Hedge Fund Strike Deal, The latter Absorbs Alternative and Microfinance Funds
Candriam hedge fund has entered into a definitive agreement with Europe’s Rothschild Asset Management Company to acquire the latter’s alternative asset management business.
The deal was sealed at a whopping €350m, encompassing assets from institutional funds as well as France and Luxembourg domicile open ended funds.
As per the undersigned agreement, alternative funds as well and microfinance funds would be integrated with Candriam hedge funding business.
Following these recent developments, the management team heading Rothchild’s fund management business will also be automatically absorbed into Candriam to ensure uninterrupted business and hassle-free management.
The aforementioned piece of information has also been verified by reliable sources from Rothschild, who spoke on grounds of anonymity.
In the words of Pierre Baudard from Rothschild, the company is delightful to be in a business collaboration with Candriam which has over the years established itself as a significant alternative multi-management entity.
The company is also hopeful that over the years, this business venture would potentially reflect in ample customer satisfaction and improved technical support and expertise, thus influencing favorable business decision in asset investment over the years.
Candriam also boasts of a versatile and robust clientele spread across Europe with prominence in Luxembourg, Brussels, London and Paris. In recent times, the company also has a total of €130bn in asset management, followed by Rothschild that has €21bn in the category.
Rothschild asset management wing has a business hub rooted in Paris and operates across a diverse array of open-ended funds which are commercially available under the brands, 4Change, Thematic, Conviction and Valour.
Adding to this significant development, Candriam kingpin, Fabrice Cuchet opined that the company is highly pleased with the business venture in place, enabling it to tread along novel growth opportunities in alternative investment venture, thus influencing substantial investments.