Financial merger in Catalonia: GVC Gaesco aims to double its portfolio to 10 billion euros.

BarcelonaThe asset management firm Diagonal Asset Management and the GVC Gaesco group, two leading Catalan financial institutions dedicated to asset and wealth management, as well as financial analysis and advisory services for investors, have decided to merge into a single group through a takeover of the former by the latter. The resulting company will retain the name GCV Gaesco and will have €5.2 billion in management and administration resources.

The transaction, which is subject to the relevant regulatory approvals, involves the integration of the asset management firm into the group through a share exchange and cash payment, and with the incorporation of Diagonal Asset Management's partners into GVC Gaesco's management team. The new business plan will prioritize asset planning, personalized portfolio management, and the development of financial solutions tailored to different investor profiles.

The incorporation of Diagonal Asset Management, which has €700 million in assets under management, will bring GVC Gaesco's portfolio to €5.2 billion. Furthermore, this integration aims to initiate a new phase of growth, managing €10 billion over the next three years, doubling its current volume. The objective of the new group is to boost technological investment and enhance the growth of the company's agent network. One of the objectives of the new business plan is to increase its turnover from €35 million to €70 million within five years.

For the executive president of the GVC Gaesco group, Maria Àngels Vallvé, the integration agreement represents a milestone for the group because it allows them to expand their management and advisory capacity. For Diagonal Asset Management, in the words of its executive president and founding partner, Marc Ciria, the transaction consolidates the plan for asset and multi-agency advisory services. family office.

Last year, GVC Gaesco generated €23 million in revenue, 11% more than in 2023, with €4.492 billion in assets under management. Almost half of this revenue—€2.163 billion—was actively managed, representing a 12.5% increase. Most of this active management revenue came from GVC Gaesco Gestió's mutual funds/collective investment funds (CIVs), while the remainder was distributed between private equity and portfolio management. The financial group's net income was €2.7 million.