Low-hanging fruit

13 March 2018 By Aimee Donnellan Follow @aimeedonnellan

The French investment bank is spending about 100 mln euros on stakes in three boutique advisory firms including the UK’s Fenchurch. Lenders seeking to buy their way up the league tables have a poor record. But the low cost and arm’s-length management reduce the risk of an upset.

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Natixis said on March 12 it plans invest in three independent boutique advisory firms for an undisclosed sum.

The French investment bank is buying majority stakes in Fenchurch Advisory Partners and Vermilion Partners, and taking a minority position in Clipperton. Natixis said the investments would diversify its investment banking business and bolster its presence in China. Natixis said the cost of the deals would reduce its common equity Tier 1 capital ratio by 8 basis points. This is equal to around 96 million euros.

Natixis plans to buy a 51 percent stake in Fenchurch, which is focused on corporate finance advice to financial services companies in Britain. It has also agreed to buy a majority stake in Vermilion Partners, which focuses on cross-border mergers and acquisitions involving Chinese state-owned and private companies. Natixis is also buying a minority stake in French M&A boutique Clipperton, which specialises in high-growth technology.

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