Ashburton Investments, a specialist Africa and Asia investor with $10 billion (€9.2 billion) of assets under management, is to acquire South African fixed income boutique, Atlantic Asset Management, for an undisclosed sum.
Ashburton, which has offices in the UK and Jersey and which is owned by South Africa’s FirstRand Group, also gets Atlantic’s subsidiary, Atlantic Specialised Finance, as part of the deal that is set to complete in January.
As well as adding more traditional fixed income funds to Ashburton, the firm will be able to use Atlantic’s experience in managing social impact investments.
Atlantic’s funds will be rebranded as Ashburton Investments’ funds, but the mandates and teams will remain the same.
Arno Lawrenz, Atlantic ‘s chief investment officer, will be appointed head of fixed income portfolio management.
Heather Jackson, chief executive officer (CEO) of Atlantic Specialised Finance, will work with Ashburton’s alternatives team.
Boshoff Grobler, Ashburton CEO, says Atlantic has some of South Africa’s best expertise in traditional fixed income and money markets.
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