On June 3, 2013, Julius Baer announced the completion of its acquisition of a 19.9% stake in Kairos Investment Management SpA and the commencement of a new strategic partnership, Kairos Julius Baer SIM SpA, in Italy.
On June 3, 2013, Bloomberg reported that private equity firm The Carlyle Group had agreed to purchase the remaining 40% of AlpInvest Partners, a Dutch investment manager, for 2.8 million shares and €4 million in cash. Carlyle acquired a 60% stake in AlpInvest in 2011.
On June 5, 2013, SBI Mutual Fund announced that it had agreed to acquire the India-domiciled mutual funds of Daiwa Mutual Fund. State Bank of India, SBI Mutual Fund Trustee Company and SBI Funds Management will assume the sponsorship, trusteeship and management and administration of the Daiwa Mutual Funds.
On June 4, 2013, Arrowpoint Partners announced that it had entered into an agreement to acquire Aster Investment Management, the advisor to the Meridian Growth, Meridian Value and Meridian Equity Income mutual funds.
On May 24, 2013, Handlesbanken announced that it had received approval from the British financial supervisory authority for its acquisition of Heartwood Wealth Group Ltd, a British wealth management firm. All closing conditions have now been met for Handlesbanken to complete its acquisition, previously announced on February 6, 2013.