FinEx Capital, part of the FinEx Group, the international investment house, said that it has entered an offer to acquire 100 per cent of Dexia Asset Management, the subsidiary of Brussels-based banking group Dexia SA.

“FinEx has been looking to acquire an asset manager for some time to allow us to add scale to our existing platform before our planned expansion into Asia. We have been following the Dexia situation for some time and have decided to enter an offer to acquire Dexia. The business offers us a platform that is the right size and product mix for us and it will allow us to continue to grow our business,” said Simon Luhr, managing partner and chief executive of FinEx Capital Management.

Earlier in the year, Dexia terminated a planned arrangement to sell its asset management arm to Hong Kong-based GCS Capital for €380 million ($502.3 million). Selling the €80 billion ($105.5 billion) asset management unit to GCS would have concluded the process of selling off Dexia’s various divisions, which so far, have cost France alone €6.6 billion ($8.7 billion) in bailouts since 2008.

The FinEx Group had assets under management of more than $1 billion, as at 31 December 2012.