Vontobel Asset Management has agreed to buy a 60% stake in London-based independent fixed income specialist TwentyFour Asset Management.
TwentyFour’s partners and key employees will retain a 40% stake in the business post deal. The stake will be acquired by Vontobel over the longer-term.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Also, TwentyFour’s Partners will continue to manage the firm’s operations and will continue to exercise full authority over fund investment decisions.
The TwentyFour brand will also be retained, the Swiss asset manager said.
The partners will also reinvest a significant share of their consideration into existing TwentyFour or Vontobel investment funds.
However, the investment platforms of both companies will operate independently of each other.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataVontobel Asset Management head and member of the group executive management Axel Schwarzer said, "TwentyFour’s expertise, performance culture and the consistent organic growth have convinced us. The acquisition will set a strong foundation for Vontobel Asset Management’s further growth in the UK, which is one of the most important asset management markets in the world and accelerates the international growth of our business."
The deal, subject to approval of the Financial Conduct Authority and Switzerland’s FINMA, is scheduled to be completed by the second quarter of this year.
In a separate statement, Vontobel revealed that it is in talks with bank of New York Mellon (BNY Mellon) about a possible takeover of German asset manager Meriten Investment Management.
