Boutique asset manager Polar Capital has acquired Dalton Strategic Partnership as part of its European diversification plan in a deal worth £15.6 million (€17.05 million).
The deal will provide Polar with broader wholesale and institutional distribution in Europe, particularly in the German market, the firm said in a statement.
Gavin Rochussen, chief executive of Polar Capital, said the acquisition delivers “greater scale, new capabilities and an expanded distribution reach in Europe, as well as highly experienced investment teams with a good track record”.
Following the acquisition, Polar will take on Dalton’s European investment team and already established funds, including Polar’s first Luxembourg-domiciled Sicav.
Nick Mottram, chief executive of Dalton, said that Polar would be a good cultural fit for the firm, which had been looking to join a larger group but wanted to ensure it retained investment autonomy over its funds.
As of mid-December, Dalton manages £1.24 billion of assets, excluding assets under management in the Velox Fund which is on the firm’s platform but does not form part of this transaction. As of the end of September, Polar Capital managed over £16 billion of assets.
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