Natixis to Sell H2O Stake to Investment Firm’s Management
- Deal is subject to regulatory approval, says Natixis IM CEO
- French lender had agreed to part with affiliate last year
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Natixis SA has agreed to sell its majority stake in H2O Asset Management back to the investment firm’s management team, ending a decade-long relationship that’s recently been marred by controversy.
Natixis last year said it was in talks about a “progressive and orderly unwinding” of its partnership with the London fund manager, which could include a sale of its stake. The move could be a blow to H2O, which had relied on Natixis’s huge distribution network to help bring investors into its 20 billion euros ($24.6 billion) of funds.