LONDON: Jupiter Fund Management plc announced Tuesday it will acquire CCLA Investment Management Limited for £100 million, marking a major expansion into the UK non-profit asset management sector.
The deal, subject to regulatory approval, positions Jupiter to broaden its domestic footprint by integrating CCLA’s £151 billion in assets under management and deep relationships with charities, religious institutions, and local authorities. Jupiter plans to preserve CCLA’s brand, investment teams, and client service model.
“This acquisition gives us scale in our home market and unlocks a new client channel,” said Matthew Beesley, CEO of Jupiter. “CCLA’s values and client-centric approach are closely aligned with ours.”
CCLA has posted consistent growth, netting £4.3 billion in inflows since 2015. Jupiter projects immediate earnings accretion, with run-rate cost synergies of at least £16 million annually by 2027.
Completion is expected before year-end 2025, with funding drawn entirely from Jupiter’s existing cash reserves.
Peter Hugh Smith, CEO of CCLA, said the partnership will maintain service quality and unlock access to Jupiter’s infrastructure and distribution network.
The acquisition supports Jupiter’s goal of achieving a 70% cost-to-income ratio and accompanies an update to its capital allocation policy, including a distribution of half of FY 2025 performance fee-related revenue.