Julius Baer Group said on 2 May it had successfully closed the sale of Kairos Partners SGR to Italy-based Anima Holding.
In the statement, the Swiss headquartered banking and financial services group said; "Following the signing with Anima Holding SpA of an agreement on the sale of Kairos Partners SGR (Kairos) on 16 November 2023, all pre-closing steps were efficiently and successfully completed, and approvals received to execute the sale as envisaged."
Kairos was officially deconsolidated from Julius Baer Group yesterday.
The deal was first announced in November 2023 when Julius Baer Group and Kairos’ co-shareholders agreed to sell 100% of Kairos (by way of Kairos SGR) to Anima Holding SpA (Anima) - an Italy-based firm - for approximately €20m to €25m.
Italian asset and wealth management company Kairos, which has around €4.5bn in AUM, is part of Julius Baer Group – Kairos management had retained approximately 35% interest since 2021.
