Asset management roundup: Natixis spreads its wings in real assets
Natixis Investment Managers has acquired a minority stake in Airborne Capital, a specialist aircraft lease and asset management firm.
Natixis acquired the stake from the existing shareholders, which comprised Airborne’s founding management team and Irish financial services firm Fexco.
The deal enables Natixis to expand its offerings in the real assets space, and provides Airborne with access to the French company’s distribution network. Airborne aims to have aircraft assets under management of over $5bn (€4bn) within five years.
Jean Raby, CEO of Natixis Investment Managers, said: “Airborne Capital combines an experienced management team, a strong track record and a unique model to investing in real assets in the fast-growing commercial aviation sector. As demand for alternative and real asset classes grows, we will continue to invest in the ability to bring our clients the best solutions available.”
Airborne was launched in November 2017. Ramki Sundaram, its CEO, was previously global head of aviation at Natixis’ investment bank.
Franklin Templeton adds Edinburgh Partners
Franklin Templeton Investments is to acquire Edinburgh Partners, a value investment specialist co-founded by former Templeton research director Sandy Nairn.
The transaction was announced yesterday and is expected to be completed in the first half of this year.
Set up in 2003, Edinburgh Partners has 12 investment professionals and around $10bn of assets under management, invested in global and emerging markets equities.
Jenny Johnson, president and chief operating officer of California-based Franklin Resources, Franklin Templeton’s holding company, said: “This is the latest example of the firm continuing to make strategic investments in relatively small, yet highly experienced asset management teams that complement Franklin Templeton’s global offerings.”
Nairn will become chairman of Templeton Global Equity Group and remain CEO of Edinburgh Partners. He will report to Stephen Dover, Franklin Templeton’s head of equities.
Nairn worked in the Templeton Global Equity Group between 1990 and 2000 as executive vice president and director of research. He managed a range of institutional accounts. He was subsequently chief investment officer of Scottish Widows Investment Partnership until March 2003, leaving to help set up Edinburgh Partners.
Tikehau backs venture capitalists
Tikehau Capital, a €12.6bn French alternatives asset management group, has acquired a 25% stake in Ring Capital, a venture capital firm.
Launched last year, Ring Capital plans to acquire minority interests in growth stage companies in the technology sector. It intends to invest between €1m and €15m in opportunities, either on its own or with co-investors. It will also take part in capital increases and share buy-backs from founders and initial shareholders.
The company aims to add around 15 firms to its portfolio by the end of 2021. According to a statement, it has already completed one investment, while two other transactions are currently being finalised.
As one of the largest investors in Ring Capital, Tikehau Capital will have a seat on various committees.
Antoine Flamarion, co-founder of Tikehau Capital, said: “Entrepreneurship is deeply rooted in Tikehau Capital’s DNA. Hence, we are delighted to extend our value chain to venture capital through our support in the creation of Ring Capital.”
Tikehau Capital has also invested in the firm’s launch fund, alongside AG2R La Mondiale, BPI France, Bred and Danone. The initial investment capacity is over €140m.
Tikehau is controlled by its managers, who own 36% of the company, and institutional “partners”. Singaporean sovereign wealth fund Temasek and Carac, a French pensions and savings mutual, are among its other institutional shareholders.