Deals Of The Day: The Latest In Wealth Management M&A – Momentum, Crown Agents, Others

Editorial Staff

4 April 2023

Momentum, Crown Agents
Momentum Global Investment Management, the UK-based subsidiary of Momentum Metropolitan Holdings, has bought Crown Agents Investment Management . The deal creates a group with combined assets under management of $8.3 billion.

The acquisition has received UK regulatory approval.

All CAIM staff will move to MGIM’s London head office once the acquisition is completed. MGIM said that it does not expect any staff departures as a result of the transaction.

MGIM provides specialist investment management services to institutional clients, financial intermediaries and their clients in the UK, Europe, Asia, the Middle East, South America and South Africa. It has $5.5 billion assets under management. CAIM has $2.8 billion assets under management and is a specialist fixed income and multi-asset institutional investment manager which is based in Sutton. Formally incorporated in 1987, CAIM can trace its roots to 1749 and its predecessor organisations have provided financial services to their focus markets since 1833.

Evelyn Partners
Evelyn Partners, the UK wealth manager and professional services group, has acquired Ashcroft Partnership, a firm of chartered accountants and tax specialists in Cambridge in the East of England.

The financial terms were not disclosed.

The team at Ashcroft comprises 40 people.

“Ashcroft has been on an amazing journey since 2020. We always had a fast-paced growth strategy and when we were approached by Evelyn Partners it was clear that their commitment to developing the professional services offering in the East of England aligned with our own ambitions,” Adrian Wilson, senior partner and founder of Ashcroft Partnership LLP, said.