DECALIA Asset Management pursues its expansion plans by establishing itself in Italy, one of its priority target markets. Indeed, DECALIA has taken over Astor Investment Advisors SIM SpA, a Milan-based asset management company. This acquisition not only allows DECALIA to set foot on the Italian market but also opens the door for further developments in other European countries, thanks to the European passport. Besides its original activity, Astor will now widen its scope to dedicate also to private wealth management and to distributing DECALIA funds.
Founded in Milan in 2008 by Francesco Marini Clarelli and Jody Vender, Astor Investment Advisors SIM specializes in thematic investing. Focused on a few selected themes offering long-term potential, this approach is implemented through a hedge fund and a UCITS fund, both created under Italian law. The firm now comprises 6 employees. but several hirings are planned in the short term in order to carry on the expansion plans after the take-over to reach around ten people. Following the acquisition, the company will change its name to DECALIA Asset Management SIM SpA. The transaction, the price of which was not disclosed, has been approved by the Bank of Italy..
« Italy represents a major market in Europe et is one of our priority targets. We had planned to expand there since the beginning and, thanks to this acquisition, this has now been accomplished in the best possible way. Francesco Marini Clarelli and Jody Vender are two major figures of the Italian financial centre » said Alfredo Piacentini, Partner and CEO of DECALIA. Francesco Marini Clarelli added : « The asset management industry values the concentration of strengths and we were looking for a buyer able to perpetuate Astor’s values and to carry on a new stage in its development. We have found the ideal partner in DECALIA ».