iM Square : Results and Outlook
Apr 25, 2017, 08:00 ET
PARIS and TORONTO, April 25, 2017 /CNW/ -
- iM Square achieves a strong performance of over 21% for its first year of operations
- iM Square is currently raising capital and a 4th shareholder could join the founding shareholders
- iM Global Partner, European distribution platform begins marketing its funds
iM Square, the sole European investment and development platform dedicated to asset management, is today announcing very positive results from its first whole year of operations. Following a first fundraising for nearly 100 million Euros led by its 3 founding shareholders, Amundi (the leading European fund manager), Eurazeo (one of the leading investment funds in Europe) and the Dassault Groupe / La Maison, iM Square successfully undertook two major investments in 2016, by entering the capital of Dolan McEniry Capital Management and Polen Capital. These two investments have enabled iM Square to record a particularly strong performance of 21.8% at the close of its first year of activity.
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On the strength of these first positive results, iM Square is currently in discussions with several North American institutional investors in order to complete a second fundraising for 200 million Euros before the end of the 2nd quarter 2017. In total, 400 million Euros should be raised in the next 2 to 3 years, and this fresh money will enable iM Square to acquire stakes in between 5 to 7 assets managers in the United-States and Europe.
2016 will also be remembered as the year in which iM Square acquired a French asset management company, creating the first distribution platform of the group, iM Global Partner. On the 28th March 2017, iM Global Partner Europe has been the first French asset manager to have benefited from the first provisions to come out of the AMF and AFG working group, known as "FROG" aimed at easing the transfer of fund management activities for foreign asset managers.
Philippe Couvrecelle, iM Square President, comments: "Our business model has now been tried and tested. We are fully operational and ready to take on the next step in our development. Just as we launched iM Global Partner, we wish to launch a distribution platform in the US in 2018. We will continue to invest in entrepreneurial asset managers in the United-States and in Europe, which have distinctive and successful management styles."
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