Natixis Global Asset Management, S.A. Tuesday acquired fixed-income asset manager McDonnell Investment Management, LLC.

Natixis Global is one of the 15 largest asset managers in the world, managing $711 billion as of June 30. Maintaining headquarters in Boston and Paris, Natixis is a subsidiary of BPCE, France’s second largest banking group.

McDonnell is based in Oak Brook, Illinois and has $13.5 billion under management. McDonnell manages munis, U.S. government and agency bonds, structured securities and corporate bonds. Along with its asset management, McDonnell offers widely-regarded asset research.

“McDonnell will continue to operate autonomously with no change in management or professional staff,” a Natixis press release states. “The existing team of investment professionals will continue to pursue the same investment philosophy and employ the same investment process on behalf of clients, and the firm will continue to market these investment services through existing distribution channels. McDonnell will also retain its brand name and its suburban Chicago headquarters.”

Neither side disclosed transaction terms.

“Bringing McDonnell’s fixed income and municipal bond expertise into the NGAM family is a positive step toward fulfilling a critical need for clients who are focused on durable portfolio construction,” said Natixis Global chief executive officer Pierre Servant. “McDonnell has consistently demonstrated the entrepreneurial spirit, innovation and solid performance that are all hallmarks of our family of affiliates.”

“With this partnership, McDonnell gains greater access to the capital required to continue to serve our clients, build our business and to pursue new product opportunities,” said McDonnell president Edward Treichel. “We will also have access to a broader distribution base and enhanced growth potential as a result of this affiliation.”

Natixis Global expects to launch a new municipal bond product in early 2013.