As part of the deal Amundi has purchased a 17.5% minority stake in Tobam from the firm’s employees and US retirement and pension specialist CalPERS. Following the transaction, Tobam’s capital is held by Amundi and CalPERS, with the majority remaining in the hands of Tobam’s president Yves Choueifaty, and employees.
Amundi managing director, Yves Perrier, said of the deal: "This agreement forms part of Amundi’s policy of offering its clients the best expertise. To complement our in-house asset management teams, Amundi offers product ranges that stem from targeted partnerships. By proposing Tobam’s Anti-Benchmark strategy, Amundi, which currently manages €92bn euros in equities, is strengthening its range of ‘next generation’ investment solutions."
Tobam’s anti-benchmark model was created by Choueifaty and is a quantitative investment style designed to "maximise the efficiency of equity portfolios" and portfolio diversification. The firm, which has offices in Los Angeles, Amsterdam and Paris, manages nearly €2bn in assets through is anti-benchmark range for institutional clients.
