Thesis Asset Management To Acquire Bath-Based Investment Manager

Robbie Lawther

3 November 2017

UK-based has agreed to acquire Cambridge Fund Managers (CFM), a Bath-based discretionary investment manager with around £30 million ($39.3 million) in funds under management, as part of a strategic long-term plan.

It is expected to be complete on 31 December. The deal will result in approximately 80 clients being invited to invest with Thesis, the firm said in a statement.

The financial terms of the deal were not disclosed.

The deal comes as part of a wider acquisition strategy by Thesis following the successful management-led buyout earlier this year, which saw holding company Regit Bidco make a successful £47 million cash offer for the firm. The company is interested in exploring further opportunities with smaller discretionary fund managers (DFMs), who are considering their options.

“The management buyout earlier this year has resulted in a more expansive attitude for the company, and this deal is part of the growth that we want to achieve. Henry Cottrell has built a fantastic company, but understands the need to implement a successful succession strategy to ensure his clients have a positive experience. We are delighted to work with him in achieving this," said Lawrence Cook, director of marketing and business development at Thesis. “We are keen to explore further opportunities where smaller DFMs are considering their options, particularly as the regulatory burden increases with the likes of MiFID II and GDPR. While the regulation is sensible, it is difficult for smaller organisations to meet the impending responsibilities and obligations, and this is where we want to help firms and their clients.”

Thesis Asset Management has approximately £13.6 billion of funds under management and administration, as at 30 June 2017.