Natixis acquires $13.5 billion asset manager

Natixis Global Asset Management LP is beefing up its fixed-income asset management capabilities with the acquisition of McDonnell Investment Management LLC. Natixis, which has $711 billion under management, announced last Tuesday that it had reached an agreement to acquire McDonnell, which manages $13.5 billion, mostly in fixed-income portfolios. Terms of the deal were not disclosed, but the companies announced plans to launch a new municipal bond product early next year.

FILLS "CRITICAL NEED'

Natixis chief executive Pierre Servant said McDonnell's fixed-income expertise will help Natixis to fill a “critical need for clients who are focused on durable portfolio construction.” McDonnell is known for its expertise and specialization in fixed-income investment management and offers customized portfolios. “With this new partnership, McDonnell gains greater access to the capital required to continue to serve our clients, build our business and to pursue new product opportunities,” said president and chief executive Edward Treichel. “We will also have access to a broader distribution base and enhanced growth potential as a result of this affiliation,” he added. jbenjamin@investmentnews.com Twitter: @jeff_benjamin