Specialist EM and Frontier manager from Gulf acquires strategy managed by Ashish Chugh, who will become its CIO for EM Equities.
Boston-based investment manager Loomis, Sayles & Co. has sold its Global Emerging Markets (GEM) equities team to $4.3 billion boutique FIM Partners from Dubai.
As part of the acquisition, the strategy's head and portfolio manager Ashish Chugh will also be appointed FIM's chief investment officer for EM equities. Chugh has built the strategy since joining Loomis Sayles in 2018, and called the move a "natural evolution for [our] franchise," one that takes a benchmark-agnostic, private-equity style approach to EM investing.
“We are thrilled to welcome Ashish, and the entire GEM team to FIM Partners,” said Hedi Ben Mlouka, Chief Executive Officer of FIM Partners. “Their disciplined, research-intensive, and long-term investment approach aligns perfectly with our philosophy and our clients’ demand for differentiated access to emerging markets. This expansion marks a significant milestone and reinforces our commitment to delivering exceptional active management across the EM spectrum.”
“Since joining Loomis Sayles, Ashish and his team have delivered a truly differentiated strategy, achieving strong long-term performance and risk-adjusted returns,” said Kevin Charleston, Chief Executive Officer of Loomis Sayles. “FIM Partners’ exclusive focus on Emerging Markets investing and its complementary private equity platform make it an ideal home for the GEM team as they enter their next phase of growth.”
Further terms were not disclosed. The deal is set to close in 2026 following regulatory approval and transition.
OQ View: Gulf investment houses are taking increasing interest in EM, and the particular style appears to have created the fit here. Similar team acquisitions are likely to come, as potential for capitalization rises along with EMs' broader stature; this one is likewise interesting given the dynamics moving from a legacy midsized American manager to smaller, incipient platform.
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