Sienna Investment Managers (“Sienna”) and Acofi Gestion have entered into exclusive negotiations to acquire Acofi from certain of its current shareholders (La Française Group and non-executive partners). Following this transaction, Sienna would be the sole controlling shareholder of Acofi.
Acofi will add further expertise in the financing of real assets to Sienna, in particular corporate, real estate and renewable energy private debt. There will also be synergies as Acofi benefits from Sienna’s European network and the support of GBL as a strategic sponsor.
This acquisition will be another step in the development of Sienna’s strategy of building a European leader in alternative asset management, adding further strands to its existing offering in this fast-growing asset class. The current offering comprises real estate and private equity (directly and through funds of funds) as well as liquid asset management (subject to the completion of the MH GA acquisition).
Thibault de Saint Priest, CEO of Acofi, said, “We’re excited to be joining Sienna’s multi-strategy platform, which has a powerful momentum and a strong growth strategy. This new step will allow the Acofi team to expand its private debt fund offering while further improving the quality of service provided to investors, thus extending the work already done in the area of direct financing of the economy.”
Pedro-Antonio Arias, CEO of Sienna Investment Managers, added, “We are bringing together alternative asset managers with different specialisms – experts in their fields. This will see us integrating their offerings into a global alternative platform, offering exposure to these attractive asset classes in the form and structure investors prefer.”
About Acofi Gestion
Acofi Gestion builds investment products and solutions that meet the expectations of large institutional investors. Its initiatives focus on real assets and direct loans to the economy and cover, with €2.4 billion of assets under management, four main themes: corporate real estate, infrastructure in the energy sector, specialized financing of industrial companies, and the public sector. Acofi Gestion is an AIFM management company, approved by the AMF since 1997.
About Sienna Investment Managers
Sienna Investment Managers, a platform for alternative investments and real assets and a wholly-owned subsidiary of GBL operates in Luxembourg, London and, as of spring 2021, in Paris, Hamburg, Amsterdam, Madrid and Seoul. Sienna recently acquired L’Etoile Properties, an asset manager specialized in real estate.
Sienna manages €10 billion (of which €2.9 billion is in permanent capital or NAV) on behalf of its shareholder GBL as well as international clients, primarily through real estate assets, investments in private market funds and direct equity investments in unlisted companies. Sienna recently announced that it had entered into exclusive negotiations with Malakoff Humanis to build a strategic partnership that would result in, among other things, the acquisition of a majority stake in its management company MH GA.
Groupe Bruxelles Lambert (“GBL”) is an established investment holding company, with over sixty years of stock exchange listing, a net asset value of €22.5 billion and a market capitalization of €15.3 billion at the end of September 2021. GBL is a leading investor in Europe, focused on long-term value creation and relying on a stable and supportive family shareholder base. GBL is both a responsible company and investor and perceives ESG factors as being inextricably linked to value creation.
GBL strives to maintain a diversified high-quality portfolio of listed and private assets as well as alternative investments (through Sienna Investment Managers, the group’s alternative investment platform), composed of global companies that are leaders in their sector, to which it can contribute to value creation by being an active professional investor.
GBL is focused on delivering meaningful growth by providing attractive returns to its shareholders through a combination of growth in its net asset value, a sustainable dividend and share buybacks.
GBL is listed on the Euronext Brussels stock exchange (Ticker: GBLB BB ; ISIN code: BE0003797140) and is included in the BEL20 index.
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