Taton Capital, the independent asset management business founded by advisory network Paradigm, has acquired Prism Capital Management.
UK-based Prism Capital, which has £270 million of assets under management, was launched in 2009 as a joint venture between Paradigm, Octopus Investments and a group of advisor firms.
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Prism currently manages four risk-rated multi-manager funds.
Following the acquisition, Prism will be wholly owned by Tatton Capital, with co-founder Octopus continuing to manage the Prism funds as they transfer across to Tatton Capital.
Tatton Capital, which has assets under management of £300 million, was launched in October 2012 and is headed up by ex-Octopus CIO Lothar Mentel. The firm’s core focus is on a discretionary fund management overlay service for clients with existing advisory model portfolios.
Mentel said: "The acquisition of Prism Capital Management is important to the future development of the Tatton Capital business and is part of our on-going drive to offer advisers the best and widest possible selection of services and solutions in the market."
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By GlobalDataGuy Myles, managing director at Octopus, said:"We are really looking forward to extending our partnership with Paradigm as they develop their asset management business and build on the strong track record of the Prism funds."
