Evelyn Partners has bought UK-based Arena Wealth’s investment management business for an undisclosed sum.

Arena Wealth provides sports and entertainment professionals and entrepreneurs with advice services.

The latest deal will add nearly £90m of assets to Evelyn Partners’ portfolio.

In addition, Arena Wealth portfolio manager Ashley Thompson will move to Evelyn Partners and operate out of the company’s Nottingham branch.

Thompson, who joined Arena Wealth in 2013, has experience in serving family offices owned by high-net-worth individuals.

Arena Wealth’s client administrator Lauren Francis will also become a part of Evelyn Partners.

Evelyn Partners managing partner Bill Price said: “We have long supported sports and entertainment professionals and so there is a strong fit between Evelyn Partners and Arena Wealth.

“This deal recognises our ambition to continue growing our investment management business while at the same time ensuring that Arena Wealth’s prestigious clients will continue to receive a high-quality, personalised investment management service that is tailored to their needs.

“We look forward to also working with the Arena Wealth team on an ongoing basis.”

The latest deal comes shortly after Evelyn Partners reached an agreement to open its new office in Glasgow, Scotland.

Arena Wealth director David Lumley said: “We firmly believe that Evelyn Partners can continue to deliver the high level of investment management service our clients expect.

“Arena Wealth Partners will continue to provide clients the same comprehensive financial management service they have historically benefitted from.”