Erste Asset Management acquires 100% of InterCapital Asset Management
- Erste AM takes over the management of all UCITS investment funds, alternative public offering funds, and the funds of Croatian war veterans and their family members.
- The value of the InterCapital funds affected by the acquisition amounts to 450 million euros.
- The completion of the transaction is subject to regulatory approvals expected in the coming months.
With the completion of the purchase transaction between Erste Asset Management GmbH ("Erste AM") and InterCapital d.d. ("InterCapital") today, Erste AM acquires 100% of the shares in InterCapital Asset Management d.o.o. ("ICAM"). Erste AM takes over the management of all UCITS investment funds, alternative public offering funds, and the funds of Croatian war veterans and their family members. The value of the InterCapital funds affected by the acquisition amounts to 450 million euros. The completion of the transaction is subject to regulatory approvals expected in the coming months.
Erste Asset Management strengthens market position in Croatia
As one of the leading companies for investment fund and asset management in Central and Eastern Europe, Erste AM has been analyzing potential business opportunities for expansion in the field of investment fund management in the Croatian market for some time. The local subsidiary of Erste AM in Croatia currently manages a total of 18 open-ended investment funds, one alternative investment fund, and individual private portfolios. The total assets under management of Erste AM in Croatia currently amount to approximately 600 million euros and will exceed the 1 billion euro mark with the completion of the transaction.
Heinz Bednar, CEO of Erste Asset Management, explains:
"With the completion of this acquisition, we demonstrate our commitment to the Croatian fund market, where we see significant growth potential. The Croatian subsidiary has our full support, and we are confident that it will leverage the synergetic potential and take another step forward while ensuring the highest quality standards for all its clients, especially those who join after this acquisition."
Josip Glavas, CEO of Erste AM Croatia, adds:
"We are extremely pleased that we were able to realize the acquisition of part of the fund business of a renowned and successful company like InterCapital. We are convinced that this is a positive scenario for both companies, where each can position itself even better in its core business segments and focus on specific areas where it is a market leader. Exceeding the 1 billion euro mark in assets under management and achieving a leading market position are confirmations of the seriousness of our approach and our long-term sustainable business strategy, with which we not only continue our successful business but also make a comprehensive and continuous contribution to the growth and development of the Croatian capital market as a whole."
About us
Erste Asset Management GmbH (Erste AM) is an international asset management company with a strong position in Central and Eastern Europe. Erste Asset Management is backed by the financial strength of Erste Group Bank AG (Erste Group). At its locations in Austria, Germany, Croatia, Romania, Slovakia, the Czech Republic, and Hungary, Erste AM manages assets of EUR 84.0bn (as of 30 October 2024).
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Disclaimer
This document is an advertisement. Please refer to the prospectus of the UCITS or to the Information for Investors pursuant to Art 21 AIFMG of the alternative investment fund and the Key Information Document before making any final investment decisions. Unless indicated otherwise, source: Erste Asset Management GmbH. Our languages of communication are German and English.
The prospectus for UCITS (including any amendments) is published in accordance with the provisions of the InvFG 2011 in the currently amended version. Information for Investors pursuant to Art 21 AIFMG is prepared for the alternative investment funds (AIF) administered by Erste Asset Management GmbH pursuant to the provisions of the AIFMG in connection with the InvFG 2011. The fund prospectus, Information for Investors pursuant to Art 21 AIFMG, and the Key Information Document can be viewed in their latest versions at the website www.erste-am.com within the section mandatory publications or obtained in their latest versions free of charge from the domicile of the management company and the domicile of the custodian bank. The exact date of the most recent publication of the fund prospectus, the languages in which the Key Information Document is available, and any additional locations where the documents can be obtained can be viewed on the website www.erste-am.com. A summary of investor rights is available in German and English on the website www.erste-am.com/investor-rights as well as at the domicile of the management company.
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