Amundi’s ESG offering to swell as it acquires ETF specialist Lyxor

Amundi set to have more than 18% market share of ESG ETFs in Europe

Paris-based asset manager Amundi has announced the acquisition of Lyxor Asset Management, meaning it will have more than 18% market share of European ESG-labelled Exchange Traded Funds (ETFs).

Lyxor is a leader in the European ETF market, with €77bn in assets, giving it a 7.4% market share – the third largest in Europe. Its ESG ETF assets under management total €6.5bn, and it had previously announced ambitions to grow this to €10bn by the end of 2021. 

In the deal announced today, worth €825m, Amundi will acquire Lyxor’s €77bn ETF unit and €47bn of actively managed assets from Société Générale after winning a bidding war with State Street. 

It means Amundi will become the second largest provider of ETFs in Europe, with €142bn combined AUM and 14% market share, behind BlackRock with 44%.

The deal also means Amundi will manage €16.8bn of ESG ETF assets, giving it more than an 18% market share (based on figures from December 2020). 

Yves Perrier, CEO of Amundi, who will become its Chair in May, said: “…by creating in France the European leader in passive asset management, it will contribute to the post-Brexit positioning of the Paris financial centre”.

The transaction is expected to be complete by February 2022. 

There will be no forced departures as a result of the acquisition, according to documents.