The Financial Conduct Authority (FCA) has approved merger of UK equity specialist FOUR Capital Partners with Sanlam International Investments.
The new holding company will have assets under management of $10bn (£6.3bn), reported FT Adviser.
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The merger will not affect any of the investment teams or investment processes, the publication quoted Derrick Dunne, director of the newly formed company Sanlam Four Investments, as saying.
However, each team will be responsible for its own investment process and achieving their own investment objectives.
Under the deal, Sanlam Group will hold an 89.7% stake in the merged business. The investment teams within the existing Four business will hold a 30% equity stake in their specific business areas.
In September 2009, Four Capital signed an investment partnership with Sanlam International Investment Partners (SIIP), under which Sanlam took an initial equity interest of 29.9%.
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