M&G acquires impact investor responsAbility Investments
M&G acquires impact investor responsAbility Investments
M&G announces that it has agreed to acquire a majority stake in responsAbility Investments AG ('responsAbility'), a leader in impact investing focused on private debt and private equity across emerging markets.
Headquartered in Zurich, responsAbility has invested more than $ 11 billion in private assets across emerging markets since it was founded in 2003. A pioneer in the impact investing space, responsAbility has more recently focused on companies with business models tied to the UN’s Sustainable Development Goals. responsAbility currently has approximately $ 3.7 billion of assets under management (as at year end 2021).
The acquisition is in line with M&G’s strategy to grow its sustainable investment capabilities and become a leader in impact investing. It also expands M&G’s international presence and private asset origination capabilities. John Foley, Chief Executive, comments: 'This acquisition strengthens M&G’s position in the rapidly growing market for sustainable investments, especially in the exciting area of emerging markets. It also accelerates the growth of our private assets franchise and augments our European institutional distribution.'
M&G has agreed to acquire approximately 90% of the issued share capital of responsAbility, and expects to acquire the remaining 10% in due course. The acquisition is subject to regulatory approval. responsAbility’s 200 employees will join M&G on completion of the deal. The business will remain headquartered in Zurich and continue to serve its clients and portfolio companies across more than 70 emerging markets from its eight offices.
Given responsAbility’s standing as a renowned impact investor with a strong performance track record, responsAbility will retain its brand identity. The business will continue under the day-to-day management of its existing team, led by Chief Executive Officer Rochus Mommartz.