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GCS Capital to acquire Dexia Asset Management

GCS Capital has entered into exclusive negotiations with Brussels-based banking group Dexia SA to acquire Dexia Asset Management (DAM), a global asset manager with assets under management of approximately EUR80bn and over 550 employees worldwide.

With an established product manufacturing capability, it offers a broad range of products spanning all asset classes to both institutional and private investors across 25 countries.

GCS Capital pursues a longer term strategic initiative to present European and Australian fund products to Asian and Middle Eastern investors, and introduce products from Asia and the Middle East to existing and new clients of the group in all geographies.

Dr Huan Guocang, chief executive of GCS Capital, says: “Dexia Asset Management presents a rare opportunity to acquire a well-capitalised, standalone asset management business with the potential to transition into a global franchise.”

Mike Powell, senior partner of GCS Capital, says: “As a key component of our value proposition, we are committed to maintaining and enhancing the fabric of the existing platform, including the retention of all existing staff and clients in all geographies.”

The transaction is still subject to an agreement being entered into between the parties, any terms and conditions that may be contained in such agreement and regulatory approval.

HSBC Bank is acting as sole financial advisor to GCS Capital in connection with the proposed transaction.

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