Momentum Global Investment Management (MGIM) has acquired Sutton-based Crown Agents Investment Management (CAIM), a fixed-income and reserve management specialist with around £2.3bn in assets under management (AUM).
The deal brings the firm’s total AUM to £6.7bn, a jump of more than 50%. Regulatory approval has been secured.
CAIM’s staff, who are based in its Sutton headquarters, will transfer to MGIM’s London head office upon the completion of the deal.
MGIM stated that it did not foresee any staff departures as a result of the transaction.
Ferdi van Heerden (pictured), MGIM’s CEO, said: “This is a very exciting acquisition. The two teams complement each other well and have a strong cultural fit albeit in very different markets. The acquisition will enable MGIM to further strengthen its in-house capabilities benefitting all investors.
“The interests of all existing investors are paramount, through the stronger support that we will be able to provide to our adviser channels and partners, that will be a key focus for us as we move forward together.”
Roberts Grava, CEO of CAIM, said: “Joining forces with MGIM allows us to broaden and deepen our accessible investment talent, operational resources and distribution capabilities. CAIM’s current and future clients can expect the same dedicated focus on support, engagement and alpha generation in customised solutions tailored to the specific and evolving objectives of each client.
“Moreover, MGIM’s acquisition will allow us to offer clients a much broader array of investment solutions to meet their needs.”
CAIM is an institutional investment manager whose clients include central banks, sovereign funds, pension funds, financial institutions, and other institutional investors.