The London-based multi-family office Stonehage Group has confirmed that its asset management arm, TriAlpha, is to merge with ACP Partners to form a business that will initially be known as ACP TriAlpha.

Subject to regulatory approval, Stonehage Group and ACP will each own half of the newly combined business, which will have funds under management of $2.5 billion. 

Founded in 1997, TriAlpha is a Jersey-based asset management house offering multi-manager hedge funds, multi-asset class funds and direct securities products to investors including institutions and high net worth families.

ACP, an independent investment advisory firm based in London, was founded in 2001 by Joseph Sassoon and Alok Oberoi, both former Goldman Sachs partners. Brett Lankester, ex-head of Goldman Sachs’ UK Private Wealth Management division later joined the firm in 2007.

Mr Oberoi and Mr Lankester, currently managing partners of ACP, will be joint chief executives of the merged business, while Mr Sassoon will act as a consultant for ACP TriAlpha.

Giuseppe Ciucci, chief executive of Stonehage, said: “The merger creates a very strong investment team that is well placed to serve our private clients and their increasing need for transparent and more effective investment solutions.”

The Stonehage Group provides international families with wealth management and fiduciary services. Stonehage is an independent multi-family office, owned by its management and staff, with nine offices around the world.