M&G Announces Acquisition of Impact Investing Firm responsAbility

Published on: 28 January 2022 12:30 PM
by KnowESG

A Brief Summary

M&G plc, an international savings and investment company, announced today the purchase of responsAbility Investments AG, a Zurich-based impact investor focused on emerging countries. M&G has committed to purchase about 90% of responsAbility's issued share capital, subject to regulatory clearance, with intentions to buy the remaining 10% over time.

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responsAbility, situated in Zurich, manages $3.7 billion in assets. It focuses on impact investment through private loans and private equity in 70 emerging markets. It invests in three areas that are linked to the United Nations Sustainable Development Goals: financial inclusion, climate financing, and food security.

M&G had £370 billion in assets under management and administration as of June 30, including £90 billion in institutional accounts.

M&G will buy around 90% of the shares in responsAbility under the arrangement, with intentions to buy the remaining 10% later. Regulatory permission is required for the transaction.

The purchase, according to M&G CEO John Foley, "strengthens M&G's position in sustainable investment, particularly in developing economies, and will accelerate development in private assets." M&G oversees £65 billion in private and alternative assets, which are generally divided equally, according to spokesperson Richard Miles.