Liontrust Asset Management has entered into a conditional share purchase agreement with the significant shareholders of Neptune Investment Management to purchase the entire issued share capital of Neptune Investment Management for a total consideration of up to £40m (inclusive of the expected net asset value of Neptune).
The proposed acquisition includes the highly rated fund management team at headed by Robin Geffen, who on completion will step down as chief executive officer of Neptune to solely lead the Neptune Investment Team. The team has vast experience of and a long-term pedigree in Global Equity and Emerging Markets investment management.
On completion of the acquisition the Neptune Investment Team will continue to manage the Neptune Balanced Fund (a UK Authorised Unit Trust), Sub-funds of the Neptune Investment Funds ICVC, Sub-funds of the Neptune Investment Funds II ICVC and Sub-funds of the Neptune Investment Funds IV ICVC.
After the acquisition Liontrust's assets under management will increase by £2.8bn to £17bn. All of the Neptune Investment Team, headed by and including Robin Geffen, will join Liontrust London office.
Geffen will be able to focus on managing funds and his investment team at Liontrust and not have to run an asset management business.
The acquisition will broaden Liontrust's fund range and investment skills predominantly in areas not covered by our current eight fund management teams. It will also enable Liontrust to further broaden our distribution and client base in the UK and internationally.