The acquisition, announced today (21 October), is expected to complete in the first quarter of next year, subject to regulatory approvals.
Actiam manages around £18.5bn in assets under management (AUM) and works on behalf of a range of investors, including pension funds, insurance companies, and banks. It has a sustainable investment history of almost 30 years with a specialisation in impact investing in the microfinance and SME spaces.
As part of the deal, Cardano will enter a ten-year strategic partnership with Athora Netherlands. It will manage around £13bn in AUM as part of its deal with Actiam’s former Dutch parent, and will also provide its capabilities within Athora Netherlands’ differentiated product offering.
Cardano Group said the deal will significantly enhance its service provision with investment funds, corporate sustainability analysis, and ESG advice.
The firm will now be able to offer sustainable equity and fixed income portfolios in both the active and passive spaces, along with sustainable stewardship in-house.
“Sustainability has always been at the core of Cardano’s culture and how we run our business,” said group chief executive (CEO) Michael de Lathauwer. “We look forward to introducing our pension fund and investment clients to our broadened advisory and asset management proposition with ESG at the heart.”
Athora Netherlands CEO Jan de Pooter added: “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.”
The acquisition is Cardano’s third, following that of covenant advisory firm Lincoln Pensions, which recently rebranded as Cardano Advisory. Cardano also purchased auto-enrolment provider Now Pensions in 2019.
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