India-based Infrastructure Development Finance Company (IDFC) and Natixis Global Asset Management (NGAM) have entered into a strategic partnership for the public markets asset management business.
As part of the deal, NGAM will acquire a 25% minority stake in IDFC Asset Management Company (IDFC AMC) and the Trustee company.
This partnership will give IDFC Asset Management Company (IDFC AMC) the opportunity to enhance its international distribution and gain access to global investors who are keen to participate in India’s growth and invest in Indian equity markets.
The partnership also allows NGAM to expand its global footprint. NGAM has a significant presence in Asia, including Japan, Taiwan, Singapore and China. This is the latest development in NGAM’s stated goal to diversify its business globally.
IDFC managing director and CEO of Rajiv Lall said Natixis Global Asset Management has an established asset management business with a strong global footprint and distribution capabilities.
"We look forward to a long and mutually beneficial partnership," Lall added.
NGAM CEO Pierre Servant said this partnership with IDFC AMC allows NGAM to bring its multi-boutique investment offerings to a new market of investors.
"We believe that our broad range of offerings is well suited for this marketplace with its growing middle class. This also provides us with another opportunity to expand our business in Asia and is a major milestone towards our goal of having a more diversified global business," Servant said.