BNP Paribas Completes Acquisition of Axa’s Asset Management Unit

BNP Paribas SA has finalized its purchase of Axa SA’s investment unit, creating one of Europe’s largest asset managers.

The newly formed business will have more than €1.5 trillion ($1.8 trillion) in assets under management, according to a release from the French bank on Tuesday. Return on invested capital is expected to exceed 14% in 2028 and 20% a year later.

The acquisition will see BNP Paribas benefit from Axa Investment Managers “market position and expertise” in lucrative assets classes such as private credit, infrastructure and real estate. The deal marks an “important moment for the entire” bank, Chief ...