09 May 2012
Rabobank is to sell its asset manager Robeco in order to boost its own balance sheet, Dutch financial daily Het Financieele Dagblad reported on April 27, citing unnamed sources.
Robeco, which has assets under management of €150 billion (US$194.63 billion), will sell at between €1.5 billion and €2 billion as part of a reorganisation of its businesses, the sources told the paper. Deutsche Bank and JP Morgan have been brought in to manage the sale, the report claimed.
Merchant bankers told Het Financieele Dagblad that companies such as Robeco are wanted by private equity groups as well as independent British, US and Asian asset managers.
Asia Asset Management