Natixis Global Asset Management has agreed to buy McDonnell Investment Management, an Oak Brook, Illinois-based investment advisor with some $13.5 billion in assets under management for institutions and individuals.
McDonnell will continue to operate autonomously with no change in management or professional staff. The firm will also retain its brand name and its suburban Chicago headquarters. Transaction terms were not disclosed.
NGAM expects to launch a new municipal bond product with its new affiliate in early 2013.
“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,” stated Pierre Servant, chief executive officer, Natixis Global Asset Management.
Edward Treichel, president and chief executive officer at McDonnell lauded the deal, which gave his firm “greater access to the capital required to continue to serve our clients, build our business and to pursue new product opportunities.”
“We will also have access to a broader distribution base and enhanced growth potential as a result of this affiliation," he said.