Altrincham wealth manager sold to London group

ALTRINCHAM wealth manager Mercater Capital Management is being acquired by London-based Saltus Fund Management for an undisclosed sum.

The combined entity will trade under the Saltus name. The Mercater team has £65m under management but this figure is expected to grow.

Simon Armstrong, managing partner at Saltus said: “This acquisition gives us the perfect base from which to pursue our growth plans in the North West. There is a high quality team in place and we are looking to increase the headcount in the areas of portfolio construction, client service and finance.”

Alaric Gordon of Mercator, who will become chief operating officer of the combined group, said: “There is huge scope for specialist investment managers in the region. We have ambitious plans for growth.”

Mercater was owned by Finehunt Ltd, which has around 15 investors including the Merseyside Special Investment Fund.