The management company, acquired from Exane SA, will be the cornerstone of the development of the group led by Grégoire Varenne in the field of listed asset management.
As part of the development of its asset management activities, the Kepler Cheuvreux group signed the acquisition from Exane SA, a subsidiary of the BNP Paribas group, of the management company Ellipsis Asset Management, with 18 years of experience. on convertible funds and specializing in niche value-added management. The transaction remains subject to the prior authorization of the Autorité des Marchés Financiers and should be completed during the fourth quarter of 2021.
With 2.8 billion euros in assets under management, Ellipsis AM is a recognized management company for European and global convertible bonds. The company has also developed specialized management expertise in credit, volatility and listed derivatives. In particular, it offers dedicated management services, in particular optional overlay mandates to cover equity portfolios or dedicated convertible mandates and funds.
The Kepler Cheuvreux Group, already present in asset management through its subsidiary Kepler Cheuvreux Invest specializing in unlisted securities, in particular on two distinct strategies, one in Private Equity “Tech Growth & Late-Stage” and one in the financing of of the “Preferred Capital” type (Subordinated Debt, Quasi Capital and Capital) intended for SMEs and mid-cap companies, wishes to extend its offer by offering a range of funds based on listed assets. The acquisition of Ellipsis AM is part of this strategy, with the ambition of making this company the cornerstone of the development of the Kepler Cheuvreux Group in the field of listed asset management.
Ellipsis AM will be able to rely on the strengths of the Kepler Cheuvreux Group, in particular its multi-local network with 13 offices in Europe and the United States. In addition, the Kepler Cheuvreux Group and Ellipsis AM are both signatories of the United Nations Principles for Responsible Investment (PRI) and the ESG approach will be at the heart of future developments.
“With the acquisition of Ellipsis AM, Kepler Cheuvreux is accelerating the development of its asset management activities by enriching its fund offering with complementary strategies in the listed asset segment”, underlines Grégoire Varenne, Chairman of the Management Board of Kepler Cheuvreux.
“We are delighted to write a new page in the history of Ellipsis AM alongside the Kepler Cheuvreux Group. This merger should make it possible to strengthen our growth model and our expertise, in particular on the ESG axis ”, adds Gildas Hita de Nercy, Chairman of the Executive Board of Ellipsis AM.