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Natixis Global AM to purchase NexGen Financial
Natixis Global Asset Management (Natixis) is set to acquire all of the outstanding common shares of NexGen Financial Corporation, a Toronto-based asset manager with more than C$919 million or US$817.79 million (as of September 30 2014) in assets under management and a broad distribution platform.
The Asset 27 Oct 2014

Natixis Global Asset Management (Natixis) is set to acquire all of the outstanding common shares of NexGen Financial Corporation, a Toronto-based asset manager with more than C$919 million or US$817.79 million (as of September 30 2014) in assets under management and a broad distribution platform.

 

"NexGen is an innovative firm with a strong management team and a solid lineup of retail mutual funds offered through an expansive distribution platform," said John Hailer, chief executive officer of Natixis in the Americas and Asia.

 

Natixis manages more than US$930 billion (as of June 30 2014) in assets through its global affiliates and was selected as the top US mutual fund family based on an evaluation of 2013 performance, according to the annual Barron's/Lipper ranking of US mutual fund families. The firm is headquartered in Paris and Boston with offices around the world. Natixis plans to build upon NexGen's existing mutual fund platform by selectively offering its broad range of asset management strategies into the Canadian retail market.

 

Expanding into Canada is part of Natixis' strategic plan to actively pursue international growth. In June, the firm announced plans to launch a new business development initiative in Canada focused on tapping into the steadily growing Canadian institutional market. In 2013, the firm established its retail platform in the UK, adding personnel and launching several mutual funds registered for the UK.

 

NexGen is recognized for offering tax-efficient wealth management strategies. Their patent pending proprietary mutual fund structure is designed to achieve a number of tax planning objectives that are not publicly offered by any other Canadian mutual fund company. The firm distributes through more than 1,600 financial advisors and more than 100 dealers throughout Canada.

 

In keeping with the Natixis multi-affiliate business model, NexGen will operate autonomously with the existing senior management team. There are no immediate plans to make staffing changes or changes to their business model.

 

Completion of the transaction is subject to customary closing conditions, including Ontario court approvals, a favorable vote of at least two-thirds of the votes cast by NexGen shareholders and applicable regulatory approvals.

 

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