AXA Investment Managers (AXA IM), the asset management arm of French insurer AXA has bought a $125m controlling stake in the California based Rosenberg Group, the active quantitative global equity manager with $7bn under management.

A conditional earn-out will also be paid to Rosenberg partners, depending on future performance of the group.

The new venture will be renamed AXA Rosenberg Group and represent the sole equity manager in the AXA IM stable.

Donald Brydon, chairman and CEO of AXA IM, says: Rosenberg has an excellent reputation in the field of quant investing and offers unique products with exceptional value added, and the new AXA Rosenberg Group will gain access to a broad distribution network through AXA's world-wide presence."

p And in a reverse move, France's CDC Asset management, the institutional investment arm of Caisse des dépôts (CDD) with F900bn ($159bn) under management, has acquired AXA Fondsmanagement Gesellschaft für Kapitalanlagen (AFM), and will manage it through its German holding company.

The buy out has been made as CDC seeks to reinforce its Europe-wide presence.

The new subsidiary, which will focus on institutional clients, has been named CDC Asset Management Deutschland and will transfer from Wiesbaden to Frankfurt alongside CDD's other German operations. "