Tatton Capital, the investment manager which is part of the Paradigm Group, has acquired Prism Capital Management.

Prism, which has £270 million (around $413 million) in assets under management, was launched in 2009 as a joint venture between Paradigm, Octopus Investments and a group of advisor firms.

Following the acquisition, Prism will be wholly-owned by Tatton Capital, with Octopus continuing to be the investment manager of its existing four funds, the firm said in a statement.

Tatton Capital was launched in October 2012 and is headed up by chief investment officer Lothar Mentel.