Crédit Lyonnais Asset Management has bought a majority stake in ABF Capital Management, France's first quantitative fund management company.

The move comes as Banque Arjil et Cie, the investment bank of the Lagardère Group, decided to sell its entire stake in ABF, which it has fully controlled since 1995. The sale allows Banque Arjil to focus on its investment banking business, specifically mergers and acquisitions, structured finance and support to the new economy.