French asset manager Amundi has reportedly expressed preliminary interest in the potential sale of CVC Capital Partners‘s controlling stake in Malaysian asset manager AHAM Asset Management Bhd.
According to a MergerMarket report, talks are at an early stage, and no sell-side advisers have been appointed for the potential sale that values AHAM at roughly $757 million.
Incorporated in Malaysia in 1997, AHAM Capital first began operations under the name Hwang–DBS Capital Berhad in 2001.
In 2022, CVC Capital Partners acquired approximately 68.35% controlling interest in AHAM Capital for about $367 million via a private equity fund.
Other shareholders of AHAM Capital include Japanese-based Nikko Asset Management Co Ltd (20%) and the Armed Forces Fund Board (LTAT) (7%). AHAM Capital’s management personnel own 4.65% via Starlight Management Co (Jersey) Ltd.
A report in August said CVC Capital Partners is looking to sell its 68.35% stake in AHAM, three years after becoming the company’s largest shareholder. It acquired the stake from Affin Bank and the management of Affin Hwang Asset Management.
Aside from fund management, AMAH also provides retirement schemes and other investment products and services.
The firm owns 100% of its Islamic investment management company AIIMAN Asset Management Sdn Bhd, along with a 51% stake in Southeast Asia-focused impact-investing private equity firm Bintang Capital Partners Bhd, which it established in 2016, according to a report by The Edge Malaysia.
In June last year, AHAM announced the launch of its new biotech vehicle, AHAM World Series – Biotechnology Fund.
The fund will mainly invest in the Janus Henderson Horizon Biotechnology Fund, a vehicle managed by global asset management firm Janus Henderson.
AHAM said 85% of the fund’s net asset value will be allocated to the Janus Henderson fund, while 15% will go to money market instruments, deposits, and/or cash, per the announcement.
The biotech fund will have a base currency of USD and is available in three currency classes, namely, USD, MYR, and MYR hedged class.
