Posted inM&AUnited Kingdom

GAM makes UK acquisition in defiance of Brexit worries

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.

Part of the Bonhill Group.