Liontrust Asset Management has confirmed it is in talks to acquire the entire issued share capital of Switzerland-based asset manager Gam Holding.
In a statement released on the London Stock Exchange on 18 April, Liontrust confirmed media reports that it is assessing options to combine the two firms’ investment management businesses.
Liontrust, which is led by chief executive John Ions, has approached Gam’s board regarding the acquisition. However, the statement added that there could be no certainty that it would lead to a formal offer, and it gave no timeframe regarding the completion of the acquisition.
If the deal was completed, it would create a business with approximately £100bn ($124bn, €113bn) of assets under management.
Gam announced in January that its yearly results would be delayed, and expected to post net losses of over £270m. At the time, the asset manager blamed difficult markets and negative flows across the year for the poor performance.
Its full results were due to be published on 28 February, but have now been delayed until 25 April.
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