Multi-family office Stonehage Fleming has agreed to take over the investment management operations of Cavendish Asset Management.

Financial terms of the deal were not disclosed.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The acquisition includes the transfer of all Cavendish client portfolios worth £1bn to Stonehage Fleming Investment Management (SFIM).

SFIM will assume the management of Cavendish’s four OEIC funds, which will adopt the Stonehage Fleming brand.

These funds include the Cavendish International Fund, Opportunities Fund, AIM Fund, as well as the Balanced Income Fund.

Stonehage Fleming will also absorb four Cavendish senior fund management team members, who will run these strategies.

Moreover, an Investment Committee will be set up to manage the assets of Cavendish client families.

Cavendish CIO Julian Lewis will become co-chair of that committee, sharing the responsibility with Stonehage Fleming CEO and head of Investments Graham Wainer.

The deal is expected to wrap up on 1 August 2020.

Stonehage Fleming Group CEO Chris Merry said: “Notwithstanding the extraordinary environment, this is an important and exciting time for Stonehage Fleming; we have the scale, the range of services and practical wisdom developed over many years to be the partner of choice for wealthy families with complex needs.

“We have worked hard to build a relationship with Cavendish and its clients over many months, and are very much looking forward to their joining us at Stonehage Fleming.”

Headquartered in London, Cavendish was originally set up to oversee the assets of the Lewis family.

The firm later expanded its oversight to serve institutional and professional clients including UHNWIs and families.