RHJ International acquires KBC Asset Management Limited (Dublin)

June 21, 2010

RHJ International has agreed to acquire institutional manager KBC Asset Management Limited (Dublin) from KBC Management N.V. for approximately $29 million.

RHJ International SA (“RHJ”), a Brussels listed financial management company, announced that it has agreed to acquire KBC Asset Management (Dublin) (“KBCAM Dublin”) from KBC Asset Management N.V. (“KBCAM”).  RHJ will make an initial payment of approximately $29 million and could pay up to an additional $4.3 million from a future capital reduction.

KBC Dublin, an asset management firm with approximately $5 billion in assets under management, manages discretionary assets for global institutional clients by offering specialty equity products in three core competence areas: environmental equities, dividend oriented equities and multi assets strategies.  Its disposal is part of a series of divestments by KBCAM’s ultimate parent, Belgian bancassurance house KBC Groep NV, as a condition for its government bailout.

The acquisition is part of RHJ’s strategy to build a wealth management and advisory business under the Kleinwort Benson name, which it is in the process of acquiring, the closing of which is scheduled in July 2010.  The acquisition of KBCAM Dublin is expected to be completed during the fourth quarter of 2010.

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Investment Manager M&A, Transactions