BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets.

This operation, announced on 1 August 2024, will enable the BNP Paribas Group to create a leading European asset management platform with over €1.5trn AuM entrusted by its clients.

“It allows the group to become the European leader in long-term savings management for insurers and pension funds with around €850bn, with the ambition to become the European leader in fund collection for private asset investments and positioning itself among the main providers of ETFs in Europe,” a statement on the BNP Paribas Cardif website said.

“This operation is also part of the group’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients. By combining the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, this new platform will have a wide range of traditional and alternative assets, an expanded global distribution network, enhanced innovation capabilities, and a more comprehensive offering in responsible investment.

“It will benefit from AXA IM Alts' market position and expertise in private assets, which are key drivers of future growth for institutional and individual clients, as well as AXA IM's know-how in long-term asset management for insurance and retirement.”

CEO of BNP Paribas AM, Sandro Pierri, will lead the BNP Paribas Group’s asset management activities and Marco Morelli, the current executive chairman of AXA IM, will chair the BNP Paribas Group’s asset management activities.

“I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees," said director and CEO of BNP Paribas, Jean-Laurent Bonnafé.

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