Liontrust has struck an all-share deal to acquire River Global’s asset management business for £9.7m.
The figure includes £7.6m for the main business and a £2.1m adjustment for the European Opportunities Trust mandate. Liontrust said the deal will further expand its investment talent, bringing in experienced managers and proven processes.
Executive chair of River Global, Martin Gilbert, will join Liontrust as a non-executive director as part of the agreement.
The firm said River Global offers ‘complementary’ capabilities, investment styles and products, and the deal will also broaden Liontrust’s client base, with new investment trusts and strategic partners, it added.
River Global’s assets under management and advice were £2.7bn as of 27 February 2026. The move would bring Liontrust’s total assets to £24.4bn
The largest shareholders in River Global, representing 22.3% of the total, have agreed to a two year lock-up of their shares.
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John Ions, chief executive of Liontrust, said: “The acquisition of River Global is an important step forward for Liontrust. River Global’s investment capabilities are complementary to Liontrust’s established processes and funds and combining them will create a stronger and broader platform for future growth.
“River Global fund managers will benefit from Liontrust’s brand and distribution that will provide them with a broader route to market both in the UK and internationally.
“Clients will benefit from Liontrust’s market-leading service and the investment we have made in recent years in our operating model to ensure the integration is as smooth and quick as possible.”
Gilbert added: “River Global and Liontrust are two highly complementary businesses and it makes perfect sense to bring them together.
“River Global and its shareholders, clients and people will benefit immediately from becoming part of a wider group, with powerful distribution and marketing resources that will accelerate the inflows we are seeing into our funds as well as broader all-round growth opportunities.
“Shareholders will benefit from the significant synergies this deal brings while our talented managers will fit well within Liontrust’s wider team.”
