Specialist fund manager Liontrust has closed the purchase of the Architas UK investment business following regulatory and shareholder nod.

The deal, announced in July this year, involves the acquisition of Architas Multi-Manager Limited and Architas Advisory Services from French insurer Axa.

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Liontrust will pay up to £75m for the acquisition. However, the firm has not detailed how the deal payment will be structured.

The deal adds £5.7bn in assets under management and advice (AuMA) to Liontrust, boosting its AuMA to £26.8bn.

The amalgatipm has led to the formation of a multi-asset multi-manager proposition. John Husselbee will lead the enlarged team while Sheldon MacDonald will serve as the deputy head.

The target risk portfolios and risk profiled, income generating and specialist funds overseen by the team will now adopt the Liontrust brand.

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Liontrust CEO John Ions called the deal a “strategic acquisition”.

Ions noted: “Completing the purchase expands our distribution among financial advisers through the scale of the combined multi-asset businesses, the strength of the merged investment team, the broad range of multi-asset multi-manager portfolios and funds and enhanced client service.

“Financial advisers are key clients for Liontrust because of the responsibility they have as guardians of people’s savings. By offering both risk profiled funds and target risk portfolios, we will help advisers meet their suitability requirements by being able to choose the solution that best addresses their clients’ individual needs for investment and risk.”

A year ago, Liontrust snapped up Neptune Investment Management for a consideration of up to £40m.

The deal resulted in Neptune’s 19 funds, spanning global, income, regional as well as emerging markets, transferred, with no planned changes to their managers or investment processes.