ORIX Acquires 90% Stake in Robeco
ORIX Corporation recently announced its planned acquisition of Robeco Groep N.V, the asset-management arm of Dutch bank Rabobank. The Japanese bank would be purchasing 90% stake in Robeco Groep.
Robeco was Dutch bank Rabobank's asset management arm. Robeco Groep managed hedge funds, seven mutual funds, and separately managed accounts totaling to US$21 billion through its subsidiary in the US, Boston Partners.
The sale of Robeco Groep would mark the second time that ownership of Robeco Investment Management has passed the hands of one company to another. The asset manager was first purchased by Robeco in 2002. During that time the company's name was changed from Boston Partners to Robeco.
Another subsidiary of Robeco Groep is Harbor Capital Advisors. Using a subadvisor model, Harbor Capital Advisors operates without any in-house investment staff.
Robeco used a hand-off approach with regard to its subsidiaries' investment practices in the past. This same approach was also to be expected to continue under the new management.