Amundi To Acquire US Fund Manager Smith Breeden

Law360, New York (June 3, 2013, 1:22 PM EDT) -- Amundi, the European fund management giant owned by French banks Credit Agricole SA and Societe Generale SA, has agreed to acquire North Carolina-based institutional asset manager Smith Breeden Associates to broaden its U.S. operations, Amundi said Monday.

The fund manager will pick up Smith Breeden's $6.4 billion in assets under management. Amundi, one of the 10 largest asset managers in the world, has nearly $1 trillion in capital.

Financial terms of the deal were not disclosed. Officials for Amundi and Smith Breeden could not be reached...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.