MJ Hudson, a UK-based specialist law and asset management services firm, has acquired investment advisory firm Allenbridge and outsourced fund management provider Tower Gate Capital for an undisclosed sum.
The combined group will deliver advice to over 300 asset managers, oversee more than £200bn, and support the activities of over 100 institutional investors.
MJ Hudson CEO Matthew Hudson said: “Our goal is to build the preeminent advisory and infrastructure business in alternative assets. This strategy is driven by three strong trends.”
Tower Gate Capital, which is authorised in London and Guernsey, co-manages 12 funds with a closing AUM of over £2bn.
Allenbridge advises pension funds and other institutional investors on asset allocation, manager selection and investment governance, and providing portfolio construction, due diligence services, fund ratings and risk analysis. The firm currently advises clients with assets of more than £120bn.
Services provided by the two companies will now be available under the MJ Hudson brand.
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“Both these acquisitions significantly enhance MJ Hudson’s offering. We can now offer fund managers, advisers, institutional investors and others a comprehensive asset management and investment infrastructure. Covering such a broad community of clients across the investment management universe allows us to serve our clients better, by giving us multiple perspectives on the issues they face,” Hudson added.