London-headquartered Titan Wealth has bought discretionary fund manager Baggette Asset Management for an undisclosed sum.
Baggette is a Poole-based DFM set up in 2017, and the deal is part of Titan’s strategy to “bring a new proposition to the wealth and asset management sector”, the firm said.
The acquisition brings £180m in assets under management. Titan’s total AUM now stands at £5.2bn.
As part of the deal, Titan and Baggette & Company Wealth Management (BWM) will form a strategic partnership with BWM acting as a retail distribution partner.
James Kaberry and Andrew Fearon, joint chief executives of Titan Wealth, said: “The acquisition of Baggette allows us to extend the range of funds we offer through Titan Asset Management by incorporating the Mazarin Funds into the fund portfolio offering alongside the existing Acumen funds and range of MPS.
“Since Titan Wealth launched in June 2021 with the acquisition of two leading investment and wealth management businesses – GPP and Tavistock Wealth Limited – we have been on a journey to reform the sector.
“Following the acquisition of Cardale Asset Management earlier this year, the acquisition of Baggette marks another key moment in our journey to providing better integration and flexibility to investment managers, IFAs and end investors.”
This article first appeared on our sister publication International Adviser
