Responsible investment manager Alquity has acquired fund management group and platform VAM Funds for an undisclosed sum.
The deal, which has boosted Alquity’s assets under management and administration (AUMA) to over US$640m (£526.9m,€603.8m), will mean advisers can continue to access existing funds on the platform and fund managers Driehaus Capital Management, atomos/WTW (formerly Willis Towers Watson) and Foresight, alongside Alquity’s ESG and impact vehicles.
The first addition to the platform will be Alquity’s Indian Subcontinent fund.
VAM Funds’ platform is currently used by 400 international IFAs.
The companies will remain as separate brands and operate independently as back office functions are built over time.
Paul Robinson founder and executive chairman of Alquity, said: “This strategic acquisition creates a fast growing, high-quality international investment management platform that offers the best of the best investment access for advisers alongside award-winning service.
“This deal creates a new scaled company enabling us to accelerate our fund growth, attract more institutional investments, and broaden the quality offering to clients.
“As well as expanding VAM Funds’ successful international multi-asset IFA business, over time we will also offer Alquity’s high-quality ESG and impact funds, tapping into the increasing demand for sustainable investment products.”