Liontrust has agreed to purchase the entire issued share capital of North for GBP1.0 and is also hiring multi-manager John Husselbee as its new head of multi-Asset upon completion of the deal.
John Ions, chief executive of Liontrust, said: "North joining Liontrust fulfils our long stated objective of offering multi-asset fund management, is complementary to our existing strong investment management capability comprising an excellent range of single strategy funds and will expand our client base among intermediaries."
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The deal will also expand and diversify Liontrust’s fund management and distribution capability, particularly among the broader adviser market seeking access to cost-effective bespoke portfolio management.
Expected to complete before the end of October 2013, the transaction is subject to satisfaction of certain conditions. The proposed acquisition, if finalised, will increase Liontrust’s assets under management by £123 million.
Paul Kim will also join the new multi-asset team headed by John Husselbee as senior fund manager, multi-asset.
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