Rothschild & Co Asset Management Europe, part of Rothschild & Co. group, revealed plans to move its entire hedge fund business to Candriam. This business is worth around €350 million. The deal includes Rothschild AM’s alternative investment “fund of funds” and a micro-finance unit. The deal will boost Candriam’s hedge fund assets to €600 million. The move is pending regulatory approvals. In the grand scheme, Rothschild manages more than €21 billion and Candriam has roughly €130 billion in assets under management. Candriam is owned by New York Life Insurance Company.