Swiss-based investment firm Hansa Aktiengesellschaft plans to buy SVG Investment Managers from parent company SVG Capital.
The deal, which is subject to regulatory approval, will see Hansa become the majority stakeholder in SVGIM, with SVGIM’s senior management holding a significant minority stake.
Hansa has assets under management of more than $1.8bn, while SVGIM – which invests in UK equities by applying private equity techniques to public markets – runs around £200m.
Hansa chairman Georg von Opel says: “Our vision is to build a world class asset manager, with a focus on unconstrained investment in high quality public companies and constructive corporate engagement.
“SVGIM is a unique business with a proven track record in this style of investing. We believe we have found the ideal partner and look forward to developing this business.”
The firms say the deal will provide SVGIM with increased capital backing and “a significant platform” for growth. The firm will continue to run its SVG UK Focus fund and Strategic Equity Capital investment trust as before.
There will be no changes to SVGIM’s fund manager teams, who will retain complete investment autonomy, while the firm will continue under its own brand for the immediate future with a rebrand anticipated in due course.
SVGIM chief executive Adam Steiner says: “Hansa has an exceptional investment pedigree and our investment styles are extremely complementary.
“The acquisition of SVGIM by Hansa will provide an excellent opportunity to develop our existing business and extend our capabilities and offering to discretionary and institutional clients.”