Insurance group Swiss Life said that it has acquired a controlling interest in the French fund manager Viveris REIM, becoming the largest shareholder after its founding managers and insurer Matmut. Although the terms of the operation were not disclosed, Swiss Life has reportedly taken a 60% stake from Viveris Management. The company's managers have retained a 35% interest, with Matmut holding 5%.
Insurance group Swiss Life said that it has acquired a controlling interest in the French fund manager Viveris REIM, becoming the largest shareholder after its founding managers and insurer Matmut. Although the terms of the operation were not disclosed, Swiss Life has reportedly taken a 60% stake from Viveris Management. The company's managers have retained a 35% interest, with Matmut holding 5%.
Founded in 2007, Viveris REIM manages EUR 2.2 bn of assets across 12 OPCI investment vehicles for institutional and retail investors.
'The acquisition of an interest in a major real estate fund manager for third parties is fully in line with the strategy of profitable growth carried out by Swiss Life,' said Charles Relecom, president of Swiss Life France.
'This partnership with a major institutional player who shares the company strategy opens up new opportunities to grow and to maintain Viveris REIM's strong development,' added Frédéric Bôl, chairman of the management board of Viveris REIM.
In 2011, Viveris REIM plans to launch new funds investing in the office, retail and student housing sectors across Europe.
