Fund manager Liontrust has agreed to acquire the entire issued share capital of Alliance Trust Investments Limited (ATI), the investment management arm of Alliance Trust, for £30m.
The deal is expected to boost Liontrust’s assets by nearly £2.3bn to more than £8bn.
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Liontrust CEO John Ions said: “There is strong demand for sustainable investment in the UK and internationally. Increasingly, consumers expect the companies they use to be socially responsible and the demand for sustainable investment will only grow with the rise of millennials.
“The acquisition of Alliance Trust Investment puts us in a very strong position to meet this demand.”
The ATI investment team, which led by Peter Michaelis, and the 11 funds managed by the team will move to Liontrust as part of the deal.
“The team brings with it a broad range of existing equity and fixed income funds and a long-term track record: Peter was at Aviva Investors, including as head of sustainable and responsible investment, for 11 years before moving to ATI in August 2012,” Ions added.
The transaction is expected to be wrapped up in April 2017.
