Kempen Capital Management (KCM), a subsidiary of Van Lanschot, today announced the acquisition of the UK fiduciary management activities of Dutch pensions & investment manager MN.
The MN UK business services pension fund clients with assets totalling EUR 10.9 billion, of which EUR 3.5 billion represents full-service fiduciary management mandates. The combined expertise of KCM and MN UK will be valuable to both Dutch and UK clients. The acquisition reinforces KCM’s commitment to the UK, which is already its 2nd largest market outside the Netherlands. The transaction is in line with KCM’s strategy of international expansion and supports the wealth management strategy of Van Lanschot.
KCM will integrate MN UK into its existing business. The current MN UK team will transfer in full to KCM to provide the day-to-day services for UK clients, and will continue to be based in London. Pending regulatory approval, the transaction will be completed on 1 October 2015.
Paul Gerla, CEO of Kempen Capital Management, said: “We are very excited to announce this acquisition, which is an important landmark in expanding KCM, and especially its fiduciary management services at an international level. KCM has proven to be an entrepreneurial and innovative player in the highly competitive Dutch fiduciary management market. We are committed to doing the same in the UK, where demand for fiduciary management is increasing. MN has successfully built a fiduciary business in the UK and we look forward to developing that further.”
KCM is a European investment firm headquartered in Amsterdam, specialising in providing investment and fiduciary services to pension funds and insurance companies. The UK is KCM’s second home market, and the acquisition of all MN UK activities allows KCM to further expand its UK business.
Currently KCM focuses on pension funds ranging in size from EUR 100 million to EUR 20 billion, with fiduciary management assets of EUR 23.0 billion and total client assets of EUR 35.3 billion.