The Hawksmoor businesses are profitable and will immediately add to Liontrust's earnings.

UK asset management group Liontrust has agreed to buy the fund management and portfolio services arm of Hawksmoor Fund Management and Hawksmoor Investment Services. Liontrust will pay an initial cash consideration of £6 million ($7.95 million) plus two contingent payments of up to £2 million each in cash.

The businesses to be acquired will add about £1.9 billion in assets under management, as of 31 August 2026, according to a statement from Liontrust today.

Liontrust is buying these businesses from Hawksmoor Investment Management, a subsidiary of Shackleton Advisers.

The deal brings an investment team led by Ben Conway, head of fund management, who will continue to manage the acquired funds and fund mandates as part of Liontrust's multi-asset team.

“Hawksmoor broadens Liontrust’s investment solutions with funds that have different outcome targets from those offered by Liontrust and have meaningful exposure to investment trusts and listed alternatives,” Liontrust said. 

Hawksmoor uses a valuation-led and bottom-up investment process. Hawksmoor’s Vanbrugh Fund and Distribution Fund are in the 1st quartile and the Global Opportunities Fund is in the 1st or 2nd quartiles of their respective IA sectors over one, three and five years.

The proposed acquisition will diversify and expand Liontrust’s client base among financial advisors, including through strategic partners using Hawksmoor’s MPS, which is managed by Richard Philbin, it said. 

Hawksmoor is profitable, and the proposed acquisition, which will enhance Liontrust’s earnings from the start, will be funded with cash from existing resources and is expected to complete by 31 December 2026.

The transaction is an example of the kind of wealth and asset management consolidation that this publication continues to track.