This minority partner agreement is in line with Fortis’s strategic plan to accelerate Fortis Investments’s development in selected markets. The group sees these shareholdings as the best method to help the asset manager grow in areas where it can benefit from local partnerships to boost its overall global presence.
The agreement with Tokio Marine & Nichido Fire (TMNF) is the first such minority partnership to be completed. Fortis has also revealed that a second agreement with a partner is expected to be announced in the near future and is awaiting regulatory approval.
Lex Kloosterman, chief strategy officer in charge of Fortis Investments, commented: Fortis is fully committed to developing its asset management activities worldwide. The strong reputation of Fortis Investments has enabled us to attract a valuable partner such as TMNF, with whom the collaboration will go well beyond a ‘plain’ shareholdership. We welcome TMNF in our new international advisory board, and look forward to a new era in the international development of Fortis Investments.
Stewart Edgar, managing director with overall responsibility for Asia for Fortis Investments, added: This unique agreement between our shareholder and TMNF highlights both the commitment of Fortis to furthering the growth prospects of Fortis Investments and the value of long-term partnership in the Asian region. This allows Fortis Investments to take its successful global/local model to the next level.
