Sanlam expands global footprint to the UK, Asia
November 13, 2009
By Mzwandile Jacks
Sanlam International Investment Partners (SIIP) had acquired a 29.9 percent stake in a UK investment manager, Four Capital Partners (Four), for an undisclosed amount, the division of JSE-listed financial services group Sanlam said yesterday.
SIIP had also launched a new asset management company in Asia named Eight Investment Partners.
This comes after SIIP, a division set up to drive Sanlam's global strategy, had met with more than 100 specialist investment management businesses over the past 12 months in London, Sydney and Singapore. SIIP manages international assets and funds valued at $4.4 billion (R33bn).
Hendrik Pfaff, the managing director of SIIP, said the firm continued to look for other opportunities, including investment partnerships and acquisitions in those areas.
The move was in keeping with Sanlam's strategy of expanding its global asset management footprint.
"We identify markets that we can target for investment partnerships and acquisitions," said Pfaff. "And we are seeing a very strong growth in Asia Pacific and Europe in the future."
"Four currently has $500 million of assets under management. In the next three to five years, we think Four will be a leading business in Asia, with the value of assets under management reaching billions."
Four is a London-based specialist investment management business set up in 2006 as a UK equity specialist.
Sanlam said in terms of the deal, the current executives would retain their existing equity stakes in Four.
Derrick Dunne, a founding partner of Four, said that the partnership with SIIP would enhance the company's capabilities for clients and overall business prospects.
Pfaff said Eight Investment Partners, the Australian-based specialist Asia-Pacific funds manager, had been launched to allow for investment by onshore and offshore clients.
In addition to being authorised and regulated by the Australian Securities & Investments Commission, the firm would be well-resourced and was expected to start trading in January.
Pfaff said his company had appointed Kerry Series, the former head of Asia Pacific Equities for AMP Capital Investors, as the new chief investment officer and shareholder. He said Series was one of the experienced Asian equity investors in Sydney.
Series said the relationship with SIIP would ensure Eight Investment Partners had financial backing, business strategy input, global distribution, resources, as well as sound governance.
|
|
