27th Jan 2022 09:46
(Alliance News) - M&G PLC announced on Thursday it will acquire substantially all of responsAbility Investments AG, a Zurich-based impact investor focused on private debt and private equity in emerging markets.
The London-based investment manager will acquire 90% of responsAbility's shares, and expects to buy the remaining 10% "in due course". At the end of 2021, responsAbility had USD3.7 billion of assets under management. No financial details of the deal were disclosed.
M&G said the acquisition will strengthen its capabilities in the sustainable investment market, while growing its international presence and private asset origination abilities.
Chief Executive John Foley commented: "This acquisition strengthens M&G's position in the rapidly growing market for sustainable investments, especially in the exciting area of emerging markets. It also accelerates the growth of our private assets franchise and augments our European institutional distribution."
M&G's share price was up 1.0% to 216.60 pence each in London on Thursday morning.
By Elizabeth Winter; [email protected]
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