Macquarie Investment Management has agreed to acquire Luxembourg-based firm ValueInvest Asset Management in a move that expands the Australian fund house’s equities range.
Under the deal, ValueInvest will join the Sydney-based manager’s multi-boutique equity structure, according to a statement from Macquarie. The $5 billion boutique specializes in a value-oriented approach to global and Japanese equities.
ValueInvest’s chief executive Jesper Alsing and chief investment officer Jens Hansen will continue to head the firm, founded in 1998. Hansen manages the ValueInvest Lux Global and ValueInvest Lux Japan funds with Klaus Petersen and Claus Juul.
Ben Bruck, global head of Macquarie, said investors need skilled active managers for a diverse range of asset classes.
‘Part of our strategy is to selectively expand and strengthen our global capabilities by adding the best investment talent to the business,’ Bruck said.
‘ValueInvest will be an excellent complement to our existing high-conviction equity strategies, and we believe Macquarie’s multi-boutique equity structure and global investment platform will provide a natural fit for the ValueInvest team.’
Terms weren’t disclosed for the deal, which is expected to close in mid-2018, according to the statement.
Part of the larger Macquarie Group, the investment management division ran $260 billion as of December 31. The asset manager entered the Andean market in June 2017 through a distribution agreement with Chile's Picton.