Iimia MitonOptimal is to merge with Midas Capital in a move the firms claim will create the biggest multi-asset manager in the market.
The newly merged firm will take the Midas Capital brand and will be listed on the Alternative Investment Market.
The deal comes only six months after the merger of Iimia and Miton Optimal.
Midas Capital has been valued at £100.3m, to be paid through the issue of 27.5 million new shares and a cash payment of £59m to Midas shareholders.
Midas Capital co-founder Simon Edwards will become managing director of the merged business, which is expected to have £2.9bn invested in multi-asset offerings.
Iimia MitonOptimal chief executive Michael Philips will be chief executive of the new firm.
Edwards says he and other shareholders will put £20m of personal money into the group’s offerings. He says: “This has been on the cards for a little while and we feel it is a great deal for those concerned, with the cultures between the two firms representing a good mix. There will be some overlap in funds which will be addressed but it is the next step in offering a well resourced and experienced fund management team.”