Fosun International Acquires Asset Manager Tenax to Take on Europe
Zhang Yushuo
DATE:  Jul 03 2019
/ SOURCE:  yicai
Fosun International Acquires Asset Manager Tenax to Take on Europe Fosun International Acquires Asset Manager Tenax to Take on Europe

(Yicai Global) July 3 -- Chinese conglomerate Fosun International is set to become the largest shareholder in British boutique asset management firm Tenax Capital for an undisclosed sum as it looks to claim a larger share of the European financial market.

The transaction is pending regulatory approval but should go ahead this year, the Shanghai-based firm said in a statement yesterday.

Once the deal is complete, Tenax will be one of Fosun's main asset management platforms in Europe, it added, saying it also plans to bring the London-based target to the rapidly expanding Chinese financial market.

Founded in 2004, Tenax focuses on financial institution stocks, private debts at small- to medium-sized enterprises, insurance-linked securities and other active investments. It manages about EUR1 billion (USD1.1 billion) in assets, mostly for institutional investors in Europe.

Its new parent company is in its 27th year of operations and as of the end of last year, had assets totalling more than CNY639 billion (USD93 billion) and ranked 416th on the Forbes Global 2000 for 2018.

Editor: James Boynton

Follow Yicai Global on
Keywords:   Fosun International,Tenax Capital,M&As