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Alternative Market Briefing

Dutch group Cardano buys $25bn sustainable asset manager Actiam

Friday, October 22, 2021

Laxman Pai, Opalesque Asia:

Anglo-Dutch investment firm Cardano Group has agreed to acquire compatriot asset management firm, Actiam, from the Dutch insurance and reinsurance group Athora Netherlands N.V. for an undisclosed fee.

The acquisition increases Cardano's assets under management to £50 billion ($68.7 billion) and its headcount to 500 employees, said a press release from the pensions advisory firm. The acquisition is to provide Cardano with much-needed sustainability expertise, it added.

The pure-play sustainable investment management firm Actiam will add more than £18.5 billion ($24.9 billion) in assets under management and broaden Cardano's ESG advisory capabilities as well as its active and passive equity and fixed-income offerings.

It has a sustainable investment history of almost 30 years with a specialization in impact investing in the microfinance and SME spaces.

As part of the agreed purchase, Cardano will enter into a Long-Term Strategic Partnership Agreement for 10 years with Athora Netherlands, to manage approximately £13bn of assets.

Following completion of the acquisition, Cardano will manage over £50bn of assets and employ over 500 people in the UK and the Netherlands across its advisory, investment management, and DC businesses.

The acquisition is Cardano Group's third, following the acquisition of covenant advisory specialist Lincoln Pensions (now Cardano Advisory) in October 2016 and auto-enrolment provider NOW: Pen......................

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