Paradigm-owned asset manager Tatton Capital has acquired Prism Capital Management and its £270m of assets under management.
Launched in 2009, Prism is a joint venture between Paradigm, Octopus Investments and a group of adviser firms. The business currently manages four risk-rated multi-manager funds; the IFDS Prism Advanced, Growth, Cautious and Distribution funds.
Following the acquisition, Prism will be wholly owned by Tatton Capital. Octopus confirmed it is has extended its partnership with Paradigm Group with a four year investment management contract that will see Octopus continue to manage the Prism funds as they transfer across to Tatton Capital.
Guy Myles, managing director at Octopus, adds: “The funds have performed in line with the original mandate delivering superior performance within a controlled risk environment. The new agreement demonstrates how well the relationship is working.”
Tatton Capital was launched in October 2012 and has been run alongside Prism Capital. Led by CIO Lothar Mentel, Tatton’s core proposition is a DFM overlay management service for clients with existing advisory model portfolios. It currently has assets under management of £300m.
Mentel, says: “The acquisition of Prism Capital Management is important to the future development of the Tatton Capital business and is part of our on-going drive to offer advisers the best and widest possible selection of services and solutions in the market.”
Myles adds: ”We are really looking forward to extending our partnership with Paradigm as they develop their asset management business and build on the strong track record of the Prism funds.”