Investment manager’s acquisition keeps it on its ‘roadmap for growth’
Tatton Asset Management has taken a 50% stake in independent asset manager 8AM Global.
The Wilmslow-based investment manager has paid £7m and has an option to acquire the remaining 50%.
Paul Hogarth, chief executive of Tatton Asset Management, said: “Post completion, this will be the second acquisition in less than a year for the Group, demonstrating that we are executing on our three year “Roadmap to Growth” strategy.”
Last September Tatton bought the Verbatim funds from Fintel for £5.8m, and agreed a five-year strategic partnership with Fintel.
Hogarth added: “With a three-year target of £6.0bn of growth in assets under management, at the end of the first year we remain on target to achieve this.
“This year we have grown organically by £1.7bn and acquisitions to date have contributed a further £0.6bn a total contribution of £2.3bn towards the target and on completion 8AM will further enhance this number.”
Jeremy Nunn, managing director of 8AM Global, added: “The sale will allow 8AM to build on its success and provide us with access to the know-how and expertise of one of the market leaders in the MPS [Managed Portfolio Service] space.
“It will act as a springboard for the growth of our assets under management and provide advisers and investors with the comfort that the development and resilience of the 8AM products will continue to be at the forefront of our plans.”