Alpha Beta Partners, the multi-asset manager has announced its planned acquisition of MitonOptimal UK, the Bath-based investment manager, has now received FCA approval for the Change in Control.
Geoff Brooks, CEO at Alpha Beta Partners commented: "This is our first strategic acquisition and will add essential infrastructure to our rapidly expanding business. There is a natural synergy between both firms."
"The MitonOptimal OEIC fund range and the Socially Responsible and Ethical portfolio investment teams with their long and successful record are key building blocks in our future growth plan. We look forward to integrating the businesses and pushing-on in 2021."
By combining the strengths of both businesses, we are able to enhance our proposition with key clients."
"By combining the strengths of both businesses, we are able to enhance our proposition with key clients, supporting our partnership with them and building comprehensive outcome focussed central investment and retirement propositions at value for money prices".
Simon Sharrott, interim CEO of the MitonOptimal Group commented: "Throughout our discussions with the Alpha Beta management team, we have been impressed by their strong client focus and growth aspirations. It has been client and intermediary support over many years that has enabled us to build a successful UK fund business".
Paul Warner, Senior Portfolio Manager added. "Firstly at Minerva Fund Managers and subsequently at MitonOptimal UK we have now been running Ethical, and then SRI, models since 1994. The integration with the team at Alpha Beta gives us the opportunity to offer our models to a much wider audience and to broaden our offering."
"Because an ever-increasing number of advisers, and their clients, are looking for this type of investment without compromising on performance, our different skill sets are a perfect fit," he addded.