Thesis Asset Management (Thesis AM) has agreed to acquire Cambridge Fund Managers, a discretionary investment firm, for an undisclosed sum.
The transaction will add £30m in funds under management to Thesis’s existing portfolio.
The deal, which is expected to complete on 31 December, will also see Cambridge Fund Managers’s 80 clients moving over to Thesis AM.
This acquisition is part of the asset manger’s wider acquisition strategy, through which the firm is trying to acquire small firms that are most exposed to regulatory pressures.
Commenting on the deal, Cambridge Fund Managers owner Henry Cottrell said: “It is more important than ever to get succession right for clients and we believe we have found the best buyer to provide them with a seamless transition and excellent service thereafter.”
Thesis AM director of marketing and business development Lawrence Cook said: “The management buyout earlier this year has resulted in a more expansive attitude for the company, and this deal is part of the growth that we want to achieve.
“We are keen to explore further opportunities where smaller DFMs are considering their options, particularly as the regulatory burden increases with the likes of MiFID II and GDPR.
“While the regulation is sensible, it is difficult for smaller organisations to meet the impending responsibilities and obligations, and this is where we want to help firms and their clients.”
Earlier this year, Thesis AM was acquired by Regit Bidco in a transaction valued £47m.