Landmark Deal Shapes Europe’s Asset Management Landscape
BNP Paribas Expands Reach with AXA Investment Managers Acquisition
In a move set to reshape the European asset management industry, BNP Paribas has agreed to acquire AXA Investment Managers (AXA IM) in a deal worth €5.1 billion ($5.3 billion). The acquisition, expected to close in the summer of 2025, will create a behemoth with approximately €1.5 trillion ($1.56 trillion) in assets under management.
Strategic Partnership and Select Business Acquisition
As part of the agreement, BNP Paribas will also acquire AXA’s Select business for an additional €300 million ($312 million) and enter a long-term strategic partnership with AXA to provide investment management services. This partnership will enable both companies to leverage each other’s strengths and expertise.
Industry Consolidation Continues
This deal is the latest example of consolidation in Europe’s asset management industry, as providers seek to increase scale and competitiveness. The trend is driven by the need for firms to adapt to a rapidly changing market environment. Last year, Amundi’s acquisition of Lyxor created Europe’s largest investment manager, with €2.2 trillion ($2.3 trillion) in assets under management.
A Familiar Partnership
This is not the first collaboration between BNP Paribas Asset Management (BNPP AM) and AXA IM. The two companies co-founded EasyETF in 2005, before BNPP AM acquired AXA’s stake in 2009. AXA IM re-entered the European ETF market in 2022 with a double active launch, highlighting its focus on this area.
AXA’s Strategic Goals
According to Thomas Buberl, CEO of AXA, the company considered various options to support the future development of AXA IM and align with AXA’s strategic goals. By partnering with BNP Paribas, AXA IM will become a global asset manager with a broader product offering and a shared commitment to responsible investing.
A New Chapter for AXA IM
Renaud Dumora, Chairman of BNP Paribas Cardif, emphasized that all teams are working together to welcome AXA IM employees and clients within the BNP Paribas Cardif Group. As the deal approaches completion, both companies are poised to embark on a new chapter in their history, shaping the future of Europe’s asset management industry.
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