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Spearpoint acquisition drives big increase in Brooks Macdonald assets

Chris Macdonald 200
Brooks Macdonald chief executive Chris Macdonald

Brooks Macdonald discretionary funds under management increased 23 per cent to £4.62bn in Q4 2012, compared to £3.8bn the previous quarter, largely due to its recent acquisition.

The firm acquired Arch cru investment manager Spearpoint in November. Excluding these assets, discretionary funds under management increased around 5 per cent over the quarter.

Brooks Macdonald incurred a total of £1m acquisition costs as part of the deal which was largely funded by £21.5m raised by the firm.

Spearpoint had £614m of discretionary funds under management, £95m of funds under management and £370m of advisory funds under management making a total of approximately £1.1bn of assets and funds under management.

Brooks Macdonald chief executive Chris Macdonald says: “The half year has been a successful period of growth across the Group, culminating in our acquisition of Spearpoint in November. We are excited about the enhanced capabilities this gives to our Group offering and the opportunities going forward.”

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