Last Updated on: 22nd November 2023, 11:55 am
Swiss Investment Solution (SIS), a Geneva-based asset manager, has acquired a 12% stake in Japanese asset manager Daiwa SB, one of Japan’s largest asset managers with over 37 billion euros in assets under management. The parties have agreed not to disclose the purchase price.
Founder of Swiss Investment Solution, Benjamin Hain, said in Munich that the acquisition has ensured that SIS will not only grow in the Asian market, but will also become one of the leading companies in Switzerland going forward.
The stake acquisition is expected to be finalised in the third quarter of 2023 and SIS aims to increase earnings before interest, taxes, depreciation and amortisation from 170 to 550 million dollars in 2024.
SIS has been active in the financial market for 15 years and has provided support for hundreds of IPOs and off-market takeovers and mergers. The asset manager is now planning to go public itself, by the end of the year, and is expecting considerable interest from potential investors.
It remains to be seen how the company progresses this year, and what new developments will arise for SIS in the meantime.
