Anima, the independent Italian asset management company, has sold its fund accounting business to BNP Paribas Securities Services for an undisclosed amount.
The acquisition, which follows BNP Paribas acquisition of Italian bank Credems depository and correspondent banking business last week, consolidates the providers position in Italy and its long-standing relationship with An.
Commenting on the acquisition, Alessandro Gioffreda, head of BNP Paribas Securities Services in Italy said: This acquisition reinforces BNP Paribas Securities Services position in the Italian market, by increasing the size of our fund accounting business in Italy and strengthening our leadership in a very strategic market. The acquisition reaffirms our commitment to expanding our presence and expertise across the European marketplace.
Marco Carreri, chief executive officer of ANIMA SGR said: This transaction will allow Anima to focus on its core activities: building long-term trust relationships with its 150 distributors and providing distinctive investment solutions to one million Italian families.
Anima has over 35 billion assets under management. It specializes in Italian mutual funds, foreign SICAVs and alternative funds. It also offers supplementary pensions for companies and individuals, and managed accounts both for retail and institutional investors. Anima is part of the Asset Management Holding Group, whose key shareholders include the private equity fund Clessidra Capital Partners II, Banca Popolare di Milano and Banca Monte dei Paschi di Siena.
(JDC)