The multi-boutique is to target European clients in a new tie-up with London-based Trinity Street Asset Management.
iM Global Partner has taken a strategic stake in Trinity Street Asset Management.
The London-based management company becomes the tenth partner of the asset management group, which is led by founder Philippe Couvrecelle.
As of March 31, Trinity Street managed $8.6bn (€8bn), the vast majority of which was for clients in the US.
The deal, which concerns 40% of the capital of the British management company, is subject to approval by the FCA, the UK financial regulatory body.
Founded in 2002, Trinity Street is an independent active management company which manages portfolios invested in global and international equities (global, excluding the US).
It implements fundamental management to invest in companies experiencing positive structural changes that it believes are undervalued by the market.
‘It is a perfect addition to our network because they have very strong expertise in international and global actions, which is uncorrelated from that of their competitors and the expertise of our current partners in this area,’ Couvrecelle told Citywire France.
‘This is obviously crucial, because the last thing we want is to put our partners in competition.’
Trinity Street’s 28 employees are mainly based at its London headquarters and the company also has an office in New York.
Following the closing of the deal, Trinity Street’s founder and partners will continue to own a substantial majority of its capital and manage it independently.
‘We are committed to ensuring the longevity and stability of our company, continuing to align our interests with those of our clients and delivering high performance, while preserving our independence and entrepreneurial culture,’ said Richard Bruce, CEO and CIO of Trinity Street.
‘Trinity Street’s successes are the fruit of the work of its teams: our main objective is to maintain and improve this approach in the long term.’
iMGP wants to be very ambitious with its new partner. The group’s priority will be to distribute Trinity Street’s investment strategies in Europe, where it currently has little presence.
‘Initially, we will focus on their global equity strategy, targeting institutional investors, private bankers and family offices,’ said Couvrecelle
‘We will of course carry out the work of referencing the funds with insurers and promoting them to a more retail clientele, but these efforts will take a few years before really bearing fruit.’
