Vontobel acquires majority stake in TwentyFour AM
Vontobel Asset Management has successfully completed the acquisition of a 60% stake in TwentyFour Asset Management LLP, which it announced on 25 March 2015.
Vontobel has successfully completed the acquisition of a 60 percent stake in TwentyFour Asset Management, which it announced on 25 March 2015. TwentyFour Asset Management is a London based independent fixed income specialist with a diverse client base in the UK, spanning wholesale as well as institutional clients.
Vontobel’s majority stake in TwentyFour Asset Management underscores its positioning as an active asset manager, extends its fixed income product offering and strengthens Vontobel Asset Management’s presence in the UK market.
The acquisition creates an excellent opportunity to accelerate the international growth of Vontobel’s Asset Management business since the UK is one of the most important global asset management markets.
The transaction will be financed out of Vontobel’s own funds and is expected to be accretive for Vontobel in the first year with no significant integration costs. Vontobel will continue to comfortably exceed its own target capital ratio of 16 percent and remains in a position to consider additional external growth opportunities.