GAM has agreed a deal to buy UK-based global equity manager Taube Hodson Stonex.
The move sees GAM acquire the £1.78bn of assets run by THS, with the deal expected to be completed in the third quarter.
THS’ four principals: Cato Stonex, Mark Evans, Robert Smithson and Ali Miremadi, will move to GAM with their funds being rebranded under the GAM name.
THS runs the £434m International Growth and Value fund, the £7.6m European Growth and Value fund and the £9.6m Continental Growth and Value fund
The asset manager is already a sub-adviser to one of GAM’s global equity strategies, but runs predominantly institutional mandates.
Alexander Friedman, group chief executive at GAM, says: “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.”
Stonex, founding partner at THS, says: “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.