Investors Buying Half of Santander Asset Management
June 03, 2013
Warburg Pincus and General Atlantic have reached an agreement with Banco Santander to buy a 50% stake in Santander Asset Management for about €700 million ($907.1 million). The two firms will invest in a holding company that will integrate SAM's eleven asset management companies in the countries in which it operates. Santander will own the remaining 50%. Santander's Asset Management divisions manage over €152 billion ($196.9 billion) through mutual funds, pension funds and institutional mandates, with a focus on European and Latin American markets.