Ixis Asset Management Australia Limited has changed hands in a management buy-out that will see it named Apostle Asset Management Limited.
The management buy-out was announced today and has seen the Australian firm purchased from its global parent, Natixis Global Associates.
Under the buy-out, the management and staff of the business will own 46 per cent of the new business with the remainder being held by private investors.
Ixis Australia managing director Karyn West will remain managing director of the newly branded business.
Commenting on the transaction, West said current Ixis clients would be unaffected by the purchase as Apostle would continue to exclusively represent Natixis’ affiliates Loomis, Sayles LP, Harris Alternatives LLC and Harris Associates LP.
