Global asset manager Natixis has agreed to take a majority stake in top Australian equity manager Investors Mutual Limited after reaching a deal to buy all the shares of major investor, Pacific Current Group.
The fund manager's founder Anton Tagliaferro will also sell an 11.9 per cent stake in the business to allow Natixis to take a majority position that values the fund at $300 million. The IML team will remain shareholders alongside Natixis, while Tagliaferro's stake will sit well above 20 per cent.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
