Gerardo Braggiotti, chief executive of Italian investment banking boutique Banca Leonardo, has secured his second French acquisition in a month, buying a 34% stake in Paris-based asset manager DNCA Finance.

The star dealmaker, who quit as Lazard's head of Italy to set up the boutique last year, said the stake in the French funds firm would be an "initial participation" gradually increasing in the coming years. The fund manager has €3bn ($3.8bn) in assets under management.