Sanlam acquires stake in Caerus

Sanlam UK has acquired a 19.9 per cent stake in Caerus and purchased the network’s portfolio management business for an undisclosed sum.

Under the partnership deal, Sanlam will invest in the network. Caerus Portfolio Management will also outsource all investment management activities to Sanlam.

The deal is subject to regulatory approval.

Sanlam UK chief executive Lukas van der Walt says: “We make no secret of our vision and desire to be a leader in wealth creation in the UK. To achieve our goals we must align ourselves with suitable and appropriate parties and to that end we are delighted to announce our partnership with Caerus.

“Caerus operates an integrated wealth management model that suits us perfectly. This is the start of a long term journey which I hope will ultimately result in the unification of our businesses.”

Caerus chief executive Keith Carby says: “In partnership with Sanlam, we intend to set new standards in wealth management.

“Our clients can now be even more confident of getting their desired outcomes as a result of us combining the strengths of our two businesses.”