International law firm Cleary Gottlieb Steen & Hamilton is advising Santander Asset Management on its merger with Pioneer Investment.
Santander Asset Management is a joint venture between private equity funds Warburg Pincus and General Atlantic (as to 50 per cent) and Santander SA (as to 50 per cent). CGSH is also advising the private equity funds on the transaction. Pioneer is owned by Unicredit.
The combined company, with approximately EUR353 billion in assets under management at the close of 2014, will be called Pioneer Investments. Following completion of the deal, Santander will have a direct 33.3 per cent stake in the new company, UniCredit a 33.3 per cent stake, and Warburg Pincus and General Atlantic will share a 33.3 per cent stake.
The Cleary Gottlieb corporate team is led by London partners Simon Jay and Gabriele Antonazzo, assisted by London associates Magnus Jones and Lauren Briggs.
