Swiss fund manager Hansa Aktiengesellschaft is to boost its assets under management by £200 million (€232 million) by buying UK specialist fund manager, SVG Investment Managers (SVGIM).
SVGIM, which is owned by SVG Capital, is a London-based specialist manager that invests in UK equities by applying private equity techniques to public markets.
Hansa Aktiengesellschaft, which has assets of $1.8 billion (€1.4 billion), says it has entered into an agreement to acquire the UK manager, subject to regulatory approval, and would be the majority stakeholder while SVGIM’s senior management holds a significant minority stake. A purchase price was not disclosed.
Hansa Aktiengesellschaft will also acquire SVG Capital’s holdings in certain SVGIM managed funds.
SVGIM will continue to operate its existing managed funds as before. The fund manager currently manages the SVG UK Focus Fund, an Ireland-listed open-ended investment company, and Strategic Equity Capital, a London-listed investment trust.
There will be no changes to the fund management teams and SVGIM will continue under its own brand for now, though a rebrand is anticipated.
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