CoinShares Acquires Napoleon Asset Management in France
The digital asset investment firm received approval from France’s top financial regulator for the acquisition.
The agreement between CoinShares and Napoleon Asset Management that was finalized after the Autorite' des Marches Financiers approval, will allow the digital asset investment firm to provide Alternative Investment Fund Manager (AIFM) services to markets within the European Union. Napoleon Asset Management, which provides crypto solutions to professional investors from various fields, had already reached an agreement for its purchase by CoinShares in November 2021.
However, its acquisition was only disclosed by the digital asset management firm in recent days, when it received the necessary green light from the leading French financial watchdog, after which it was finalized in the last days of June. Napoleon’s CEO, Jean Charles Dudek, stated that the agreement “necessarily needed to await consideration by and approval of the change of control by the AMF.”
On his part, CoinShares’ Co-Founder and CEO Jean Marie Mognetti released a statement which read: “Bringing the company into our group is a further step in the right direction toward investor protection. We are proud to be one of the most regulated digital asset investment firms in the industry.