City Financial is set to acquire Iveagh’s Dublin-domiciled funds business, subject to FCA approval.
Iveagh, which is owned by the Guinness family, offers a range of retail funds, including the £116 million Iveagh Wealth fund as well as six risk-targeted core portfolios.
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Iveagh’s Dublin-domiciled UCITS business worth just under £200 million.
The deal will see Iveagh CIO Chris Wyllieand his investment team moving over to City Financial to manage the multi-asset funds unit.
Under the deal, the investment team will remain headed by Wyllie and Guinness family would remain invested in the funds.
Richard Ford, chief executive of Iveagh, said: "A full announcement will be made in due course."
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By GlobalDataThe deal follows City’s acquisition of OPM Fund Management last year.
