SMFG to invest up to $25 mln in British asset manager with focus on ESG bonds - sources

Credit: REUTERS/KIM KYUNG-HOON

TOKYO, July 16 (Reuters) - Sumitomo Mitsui Financial Group 8316.T will invest up to $25 million in British asset manager Affirmative Investment Management (AIM), two sources said, becoming the first Japanese lender to partner with a specialist in ESG bond investments.

SMFG, Japan's second-largest lender by assets, will invest $20 million in the London-based company within this year and up to another $5 million over the next few years depending on AIM's performance, said the sources, who declined to be identified because the information has not been made public.

SMFG will eventually own 24.9% of AIM's total shares outstanding, or a 4.9% stake in terms of voting rights, they said, adding that the two companies would announce the deal this week.

An SMFG spokesman declined to comment. AIM could not be immediately reached for comment.

($1 = 107.4800 yen)

(Reporting by Takashi Umekawa and Takaya Yamaguchi; Editing by Chris Gallagher)

((Takashi.Umekawa@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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