Amundi to acquire private markets asset manager Alpha

European asset manager Amundi is set to acquire private markets specialist Alpha Associates as it seeks to grow its exposure to private debt, infrastructure, private equity and venture capital.

Switzerland-based Alpha manages approximately €8.5bn (£7.25bn) of assets. Once the transaction has been completed, it will bring Amundi’s private markets portfolio to a value of €20bn.

The deal will also see Amundi’s client base grow, while its private markets team will be boosted to around 70 professionals.

“The acquisition of Alpha Associates will thus allow Amundi to significantly broaden its client base, capabilities, and product offering, in a promising market,” said Valerie Baudson, chief executive of Amundi.

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“This move, which is fully in line with our strategic objective to increase our footprint in alternative and real assets in Europe, will allow us to create substantial value for our clients and shareholders.”

Baudson noted that private markets have seen a boost in growth in recent years, and Amundi expects to see more retail investor interest in the years ahead.

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“The enlarged Amundi alternative and real assets business will be ideally positioned to serve the needs of a growing set of clients and benefit from strong tailwinds in the industry,” added Dominique Carrel-Billiard, head of alternative and real assets at Amundi.

The acquisition is expected to be completed by the third quarter of this year. By year three, Amundi has predicted a return on investment of more than 13 per cent, including revenue synergies.

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