Man Group and Fideuram – Intesa Sanpaolo Private Banking Announce Asset Management Partnership
Investment firm Man Group PLC and Italian private bank Fideuram – Intesa Sanpaolo Private Banking have announced a strategic partnership. The collaboration will focus on ESG-focused investment solutions.
Man Group PLC, a global investment management firm, has entered into a strategic partnership with Fideuram – Intesa Sanpaolo Private Banking (F-ISPB), Italy's leading private bank. The agreement aims to develop new investment opportunities for F-ISPB's clients, with a specific focus on ESG (Environmental, Social, and Governance) principles.
The partnership involves Man Group acquiring a 51% stake in Asteria, a Geneva-based asset manager with an ESG focus. The remaining 49% will be held by Fideuram – Intesa Sanpaolo Private Banking. Asteria's team has a history of creating investment solutions for wealth management and currently manages three sustainable investment funds.
This collaboration will combine Man Group's expertise in bespoke portfolio solutions with Asteria's fund development capabilities and F-ISPB's private banking knowledge. The partnership will seek to build a diverse range of technology-enabled alternative and long-only investment strategies, leveraging distribution networks across Europe, initially in Italy.
The transaction is subject to customary regulatory approvals and is expected to close by the end of 2023. The agreement is not anticipated to impact F-ISPB's existing partnerships or its internal product manufacturing capabilities.