LONDON: Liontrust Asset Management Plc, the specialist independent fund management group, has entered into a conditional share purchase agreement with the significant shareholders of Neptune Investment Management Limited to purchase the entire issued share capital of Neptune Investment Management Limited for a total consideration of up to £40 million.

The proposed acquisition includes the highly rated fund management team at Neptune headed by Robin Geffen, who on completion of the proposed acquisition will step down as Chief Executive Officer of Neptune to solely lead the Neptune Investment Team.

The team has vast experience of and a long-term pedigree in Global Equity and Emerging Markets investment management.

Liontrust is buying Neptune as part of the stated goal of using strategic acquisitions to diversify product range and accelerate growth strategy.

This acquisition bolsters Liontrust’s development of a high-quality investment proposition across multiple teams and asset classes by adding expertise in many equity sectors not currently provided by our fund management teams.

John Ions, Chief Executive of Liontrust, said: “Neptune is a great acquisition for Liontrust and will enhance our already excellent investment proposition in areas where there is strong demand such as Global equities, Equity Income and Emerging Markets equities.

“We have created an environment to give fund management talent with robust and repeatable investment processes the best possible opportunity to deliver good, long-term returns for our clients. Robin and the rest of the team at Neptune will be able to focus on managing their funds and not be distracted by other day-to-day aspects of running a business.

“The continued success of Liontrust has shown the value that clients and their investors place on our approach to managing portfolios on their behalf.

“In acquiring Neptune, we are adhering to our core beliefs and are strengthening the Liontrust proposition for both our clients and shareholders.”

Robin Geffen said: “It has been an easy decision to agree to sell Neptune to Liontrust. We have been hugely impressed by the excellent leadership and entrepreneurial attitude of the Executive Management team at Liontrust, the Company’s brand profile and by its sales and marketing capability.

“Neptune has great fund performance and an attractive investment proposition and will benefit hugely from the sales and marketing teams at Liontrust.

“The deal will also enable me to step away from managing the business and focus solely on managing funds and leading my investment team, which is my real passion.

“We believe the environment and culture at Liontrust will enable us to deliver performance for our investors and attract inflows into our funds over the next few years.”

Edited by Nayyar Iqbal