In March 2014, ‘long only’ equity investment specialist River and Mercantile Asset Management merged with investment consultancy P-Solve in March 2014, creating a new combined entity called the River Mercantile Group.
Although the current operations of each of the two separate businesses is retained as part of the merger, the group plans to develop new services by combining R&M’s equity management arm with the asset allocation and derivative businesses at P-Solve.
P-Solve’s chief executive Mike Faulkner became the chief executive of the combined firm while R&M’s chief executive James Barham continues to head the equity management business as well take on a group-wide role as head of distribution.
As at 31 March 2014, the River & Mercantile Group has £8.4bn of assets under management in its fiduciary management and equity solutions divisions and £8.5bn in its derivatives business.
The group announced in May 2014 it is to free float 40 per cent of its business on the London Stock Exchange as it looks to raise £12m in its IPO in order to develop and seed new product launches.