Freshfields, Cleary Gottlieb, Cyril Amarchand Mangaldas (CAM), Astura, Matheson, Lenz & Staehelin, Ogier, Sullivan & Cromwell and DLA Piper advised on BNP Paribas’ €5.1bn acquisition of AXA Investment Managers (AXA IM).

BNP Paribas has acquired AXA Investment Managers (AXA IM) for approximately €5.1 billion, alongside a long-term strategic partnership under which BNP Paribas will manage a significant portion of AXA’s assets. Following completion, BNP Paribas integrated AXA IM with its existing asset management platforms — BNP Paribas Asset Management and BNP Paribas Real Estate Investment Management — to create a single global asset manager operating under the BNP Paribas Asset Management brand, with more than €1.6 trillion in assets under management, placing it among the top three asset managers in Europe.

Freshfields LLP advised BNP Paribas Group on its €5.1 billion acquisition of AXA Investment Managers, together with a long-term strategic partnership to manage a significant portion of AXA’s assets.

The Freshfields team was led by Partners Hervé Pisani, and Marc Perrone, working alongside BNP Paribas’ in-house M&A and private equity legal team.

Cleary Gottlieb advised BNP Paribas on the post-acquisition integration of its global asset management activities, including the merger of AXA Investment Managers, BNP Paribas Asset Management and BNP Paribas Real Estate Investment Management into a single entity operating under the BNP Paribas Asset Management brand.

The Cleary Gottlieb corporate team included Partners Pierre-Yves Chabert and Sophie de Beer, supported by Associates Blanche d’Aramon, Paul Roudié, Pierre Fusz, Camille Kernevès, Eléonore Azaïs, Johanna Jumelet and Ferdinand Toulza.

Cyril Amarchand Mangaldas (CAM) advised BNP Paribas on the India and GIFT-IFSC leg of the global asset management restructuring, including Indian regulatory, SEBI and IFSC-related aspects.

The CAM team was led by Senior Partners Akila Agrawal and Neham Tayal. Partner Gazal Rawal advised on SEBI-related matters, supported by Consultant – Regulatory Affairs Ranganayakulu Jagarlamudi, while Partner Ketaki Mehta advised on GIFT City and IFSC aspects. The team was supported by Senior Associate Yash Mukadam and Associates Nishant Tiwari, Diya Narag, Avni Srivastava, Havish Gotecha and Aastha Vyas.

Astura advised BNP Paribas on the IP and IT aspects of the acquisition, while PwC Société d’Avocats conducted tax due diligence in connection with the transaction. Matthieu Mélin is the Partner in-charge of the transaction.

Lenz & Staehelin advised BNP Paribas Cardif on Swiss competition and merger control filings arising from the acquisition of AXA Investment Managers. The Lenz & Staehelin team consisted of Partner Astrid Waser and Associate Sandro Travaglini.

Matheson advised BNP Paribas Cardif on Irish financial regulatory aspects of the acquisition. The Matheson team was led by Partner Caroline Kearns, with support from Associate James Grogan.

Ogier advised BNP Paribas on regulatory matters in the Channel Islands in connection with the integration of its asset management activities. The Ogier team comprised Partners Tim Clipstone and Bruce Scott, supported by Counsel Liam Murphy.

Sullivan & Cromwell advised AXA on the sale of AXA Investment Managers to BNP Paribas. The S&C team was led by Partners William D. Torchiana, Olivier de Vilmorin, Nicolas de Boynes, Ken Li and Nicolas Karmin, with Rodge Cohen and Mitch Eitel advising on U.S. bank regulatory matters.

DLA Piper advised AXA IM Alts on regulatory and contractual matters following its integration into the BNP Paribas Asset Management group. The DLA Piper team was led by Partner Diane Campion de Poligny, supported by Partners Pierre d’Ormesson and Sophie Lok, Senior Associate Gertjan Dewilde, and Associates Pia Sabatier, Lucas Meyruey, Julie Palumbo and Youssef Warde.