Pioneer Investments: Investment Manager Highlight (UCG, SAN) | Investopedia
Upcoming Merger With Santander Asset Management In April 2015, UniCredit announced its intentions to merge its Pioneer Investments business with Santander Asset Management, a global investment manager jointly owned by Spain’s Banco Santander SA (NYSE: SAN ) and the American private equity firms General Atlantic LLC and Warburg Pincus LLC. In November 2015, the companies concluded a binding agreement to carry out the merger with expectations of closing the deal in 2016. At the conclusion of the merger, the combined company is to continue operations under the Pioneer Investments name. Under the terms of the deal, ownership of Pioneer Investments’ U.S. operations is to be shared equally between UniCredit on one side and General Atlantic and Warburg Pincus on the other. Ownership of all other worldwide business operations included in the merger is to be split three ways, with UniCredit, Banco Santander and the General Atlantic-Warburg Pincus partnership each holding a 33.3% stake. As of Dec. 31, 2015, Santander Asset Management had $176 billion in AUM.
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