Asset management group GAM is to acquire Taube Hodson Stonex (THS), a global equity investment firm based in the UK with £1.78bn (€2.25bn) of assets under management as at 31 March 2016.
The deal is expected to close in the third quarter of 2016, pending customary regulatory approvals.
At completion, the THS investment management business will transfer to GAM.
The investment team, led by the four principals Cato Stonex, Mark Evans, Robert Smithson and Ali Miremadi, will subsequently relocate to the GAM offices in London and their strategies will be marketed under the GAM brand.
THS manages institutional mandates investing in global and European equities, following a long-term, unconstrained and active investment approach based on proprietary company research.
THS has also been the sub-advisor to one of GAM’s oldest global equity strategies, launched in 1983.
“With their proven track-record and deep expertise, the THS team is a great strategic and cultural fit for GAM and we are delighted that they have chosen to join us.
“We have a multi-decade relationship with the founders and this acquisition is consistent with the growth agenda we set out in 2015, which includes targeting opportunities that substantially deepen our global equity capabilities,” GAM’s group CEO Alexander Friedman said.
“We are excited to join GAM – one of our oldest clients and a firm with such an impressive track-record as a home for active investors. We think this is an excellent deal for our clients. GAM’s global client network and its operational infrastructure will allow us to remain focused on our investment priorities and to build on our strengths,” THS founding partner Cato Stonex said.