The Cardano group has agreed to acquire Dutch sustainable investment manager ACTIAM, a spokesperson confirmed.
Terms of the contract are not disclosed. The acquisition brings Cardano’s assets under management to £ 50 billion ($ 68.7 billion) and its workforce to 500 employees.
ACTIAM will add more than 21.5 billion euros ($ 24.9 billion) in assets under management and expand Cardano’s ESG advisory capabilities as well as its active and passive equity and fixed income offerings, the company announced in a press release Thursday.
The purchase from Dutch insurance and reinsurance group Athora Netherlands is expected to be finalized in the first quarter of 2022 and is subject to regulatory approvals.
As part of the transaction, Cardano will enter into a long-term strategic partnership to manage Athora’s £ 13 billion in assets for 10 years.
Cardano and ACTIAM will remain independent legal entities but their activities will be integrated.
At the closing of the acquisition, Harold Naus, currently CEO of Cardano Risk Management and Chief Financial Officer of Cardano Group, will become CEO of ACTIAM, reporting to CEO of Cardano Group, Mickey De Lathauwer.
“As we begin to work with our new colleagues, we look forward to presenting our pension funds and investment clients in the Netherlands and UK to our expanded advisory and asset management offering with ESG in his heart, “De Lathauwer said in the statement.
Jan de Pooter, CEO of Athora Netherlands, added in the statement: “We are delighted to have agreed to a 10 year partnership. In Cardano we see the ideal new owner for ACTIAM as we can take advantage of the combined knowledge in the field of pensions, it will enrich the service and product offering to our clients and it is a great new home for employees of ‘ACTIAM. “
Cardano has more than £ 300 billion in assets under advice.