British asset manager Standard Life Investments has acquired Ignis Asset Management from Phoenix Group Holdings, in a deal worth £390 million.
The acquisition will complement the strong organic growth at Standard Life Investments and improves the company’s strategic positioning through deepening investment capabilities and broadening third party client base.
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The combined business will offer a range of investment solutions such as active management for institutional and wholesale clients, discretionary wealth management for high net worth private clients and outcome orientated products for maturing pension schemes and insurance companies.
The company will enter into a strategic alliance with Phoenix through which Standard Life Investments will provide asset management services to Phoenix’s Life Company subsidiaries, as part of the transaction.
Standard Life Investments chief executive Keith Skeoch said that Standard Life Investments continues to perform very strongly.
"Continuity of investment performance and commitment to client service and relationship management remain our key priorities, with migration and integration of Ignis taking place in a controlled manner under unified management from day one," added Skeoch.
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