The renewed partnership between Belgium’s Belfius Bank, Belfius Asset Management and the Luxembourg-headquartered asset management company Candriam, announced on 5 May 2025, aims to expand Belfius clients’ access to Candriam’s international expertise, including private markets.

“This partnership will provide Candriam with further opportunities to leverage its expertise, product innovation and investment capabilities, creating added value for its stakeholders,” commented Candriam CEO Vincent Hamelink.

Belfius will become a minority shareholder in Candriam, taking a “strategic stake investment” of 33% in the asset management company. The investment aims to leverage the strengths of both firms to deliver tailored solutions and sustained growth, noted a press release, boosting Candriam’s focus on innovation, sustainable investing and private assets.

“The unique opportunity of bringing closer the talented forces of Candriam and Belfius is a perfect match, in terms of the expertise we offer to our customers and our shared values and company cultures,” said Dirk Gyselinck, executive drector, private, wealth & retail banking at Belfius Bank.

Founded in 1996 and part of the New York Life Investments group, Candriam has management centres in Brussels, London, Luxembourg and Paris. It had €155bn in assets under management as at 31 December 2024.

The transaction remains subject to regulatory approval and closing conditions. Additional details around the anticipated transaction were not disclosed.