Asset management firm GAM has entered into an agreement to buy UK-based global equity investment firm THS, the Swiss company has announced.
THS is a thematic investment firm which manages €2.26 billion in assets. It focuses on thematic, bottom-up and benchmark-agnostic investment approach.
The investment team is led by Citywire AA-rated Cato Stonex, Mark Evans, Robert Smithson and Ali Miremadi. Under the agreement, the company will relocate to GAM’s London offices and their strategies will be marketed under the GAM brand.
Commenting on the deal, Stonex, who is a founding partner of THS, said: ‘We are excited to join GAM - one of our oldest clients and a firm with such an impressive track-record as a home for active investors. We think this is an excellent deal for our clients.'
‘GAM's global client network and its operational infrastructure will allow us to remain focused on our investment priorities and to build on our strengths. We look forward to joining the team.'
GAM said this latest acquisition is consistent with its strategy to complement organic growth with targeted acquisitions and team lift outs.
Group CEO Alexander Friedman added: ‘With their proven track-record and deep expertise, the THS team is a great strategic and cultural fit for GAM and we are delighted that they have chosen to join us.’
‘We have a multi-decade relationship with the founders and this acquisition is consistent with the growth agenda we set out in 2015, which includes targeting opportunities that substantially deepen our global equity capabilities.’
On completion the THS investment management business will transfer to GAM. Pending customary regulatory approvals the acquisition is expected to close in Q3 of 2016.