Liontrust Agrees to Buy Majedie for Up to 120 Million Pounds

Liontrust Asset Management has agreed to buy boutique fund house Majedie Asset Management Ltd. for as much as 120 million pounds ($159 million).

The purchase will bolster Liontrust’s assets under management and administration to 42.3 billion pounds, the London-based asset manager said in a statement Tuesday. The deal will comprise 97 million pounds in shares, with the rest in cash.

It is the third purchase for Liontrust in just over three years and marks a trend among U.K. asset managers for consolidation. Liontrust acquired multi-asset manager Architas UK Investment Business in 2020 and Neptune Investment Management in 2019.

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