As consolidation accelerates in the European asset management sector, the Iris Finance International group is stepping up its game with the merger of Chahine Capital and Dynasty Asset Management. This merger gives rise to IRIVEST Investment Managers, a new mid-sized player aiming to establish its brand in the pan-European market. A look back at a strategic transaction approved this summer by the Luxembourg regulator.
A merger approved by the Luxembourg regulator
The transaction received the green light from the Commission de Surveillance du Secteur Financier (CSSF) on July 31. According to Charles Lacroix, CEO of Chahine Capital, the goal is to combine sales, risk management, compliance, and administrative functions while retaining the teams, tools, and systems that have contributed to the success of both companies.
A consolidated and ambitious structure
IRIVEST Investment Managers will have €1.1 billion in assets under management and €19 million in equity. The company will have 27 employees and will be based in Luxembourg (headquarters) and Paris, with sales offices in Germany and Italy. Product distribution in Switzerland will be handled by the sister company Compagnie Financière Genevoise 1855.
Governance and Management
The board of directors of the new entity will consist of six members, including two independent directors. Michaël Sellam, Chairman of the Iris Finance International Group, will serve as Chairman of the Board of Directors, while Charles Lacroix will assume the dual role of director and CEO of IRIVEST IM.
Growth Objectives and Strategy
The company has not set specific numerical targets for assets under management but aims for significant growth through its flagship strategies, notably the Momentum Equity and Global Convertibles funds. Significant investments from prestigious clients are expected in France, Germany, Switzerland, and Italy in the coming months.
A renamed fund family
As part of the merger, Chahine Capital’s long-standing SICAV, previously named “Digital Star,” will be renamed “Chahine Funds.” This decision aims to clarify the identity of the funds, which are not exclusively technology-focused. The new range will include funds such as Chahine Funds - Equity Europe, Chahine Funds - Equity US, and Chahine Funds - Equity Europe Smaller Companies.
Four core areas of expertise
IRIVEST Investment Managers will focus on four key areas:
Quantitative “momentum” equity management via the Chahine Funds SICAV.
Convertible bond and credit management with DYNASTY SICAV.
Customized management company services in Luxembourg, including portfolio management, risk control, valuation, and compliance.
Private wealth management and investment advisory services for high-net-worth individuals.
Commitment to Responsible Finance
IRIVEST Investment Managers places sustainable investing at the heart of its approach, with exclusion policies, SRI voting, and responsible engagement. Several funds have already received leading European labels such as LuxFLAG ESG and SRI, and the company intends to continue this momentum in the coming years.
The creation of IRIVEST IM reflects a broader trend: the pursuit of critical mass and the rise of hybrid models combining quantitative management, convertible bonds, and customized solutions. A trend to watch closely in the coming months.
