The Cardano Group has agreed to acquire 100 per cent of the sustainable investing specialist ACTIAM from the Dutch insurance and reinsurance group Athora Netherlands.
Subject to regulatory approvals, the transaction is expected to close in the first quarter of 2022. As part of the agreed-upon purchase, Cardano will enter into a 10-year Long-Term Strategic Partnership Agreement with Athora Netherlands to manage approximately £13 billion in assets and continue to provide ACTIAM’s award-winning sustainable investment capabilities at the heart of Athora Netherlands’ differentiated product offering.
Following the completion of the acquisition, Cardano will manage over £50bn in assets and employ over 500 people in the UK and the Netherlands across its advisory, investment management, and DC businesses.
The acquisition is Cardano Group’s third, following the acquisition of covenant advisory specialist Lincoln Pensions (now Cardano Advisory) in October 2016 and auto-enrolment provider NOW: Pensions in February 2019.
ACTIAM is a Dutch asset management company with a long track record in sustainable investing, working on behalf of a diverse range of investors such as insurance companies, pension funds, banks, and distribution partners.
Cardano says that the acquisition significantly expands its service offerings, particularly in the areas of investment funds, corporate sustainability analysis, and ESG advice. It will now be able to offer best-in-class sustainable equity and fixed income portfolios in both the active and passive markets, as well as in-house sustainable stewardship.
Cardano Group CEO Michael de Lathauwer says: “Sustainability has always been at the core of Cardano’s culture and how we run our business. ACTIAM’s approach is completely aligned with our own in this regard, and we are delighted to welcome the ACTIAM team to the Cardano Group. As we start to work with our new colleagues, we look forward to introducing our pension fund and investment clients in the Netherlands and the UK to our broadened advisory and asset management proposition with ESG at its heart.”
Athora Netherlands CEO Jan de Pooter says: “We are pleased to have agreed on a ten-year partnership. In Cardano we see the ideal new owner for ACTIAM as we can leverage on the combined knowledge in the field of pensions, it will enhance the service and product offering to our customers, and it is an excellent new home for the employees of ACTIAM. On behalf of the Executive Board of Athora Netherlands, I would like to express our appreciation for the commitment, client focus and expertise of our ACTIAM colleagues, and I am looking forward to continuing our successful cooperation.”