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GAM makes UK acquisition in defiance of Brexit worries

By , 29 Jun 16

GAM, the acquisitive Swiss asset manager, has made another move. It announced today it bought the UK-based multi-strategy systematic manager Cantab Capital Partners for $217m (€195m).

GAM, the acquisitive Swiss asset manager, has made another move. It announced today it bought the UK-based multi-strategy systematic manager Cantab Capital Partners for $217m (€195m).

The deal was closed yesterday and is the first asset management acquisition announced in the UK after the Brexit vote. The Cambridge-based boutique manages $4bn in assets for institutional clients, and its acquisition is part of a strategic move by GAM to establish a bigger footprint in alternative investments.  

“The decision [to buy Cantab] is a long-term strategic decision which has been in the works for a long time. Brexit has played no role in it,” a GAM spokesperson told Expert Investor.

As part of the deal, the Cantab partners committed to re-invest the majority of the net sales proceeds into Cantab’s funds for several years. In return the former partners “retain a 40% interest in future performance fees”, said GAM.

Tags: GAM | Switzerland

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