Momentum Global Investment Management Limited (MGIM), the UK-based subsidiary of Momentum Metropolitan Holdings Limited, has acquired Crown Agents Investment Management (CAIM). The acquisition has received UK regulatory approval.

This transaction significantly enhances the growth potential for the two businesses, operating with combined assets of $8.3 billion managed on behalf of clients globally. To foster a team-based approach across teams, all CAIM staff will transition to MGIM’s London head office post-acquisition. The two businesses will ensure that clients experience seamless continuity of service with the additional benefits of a stronger offering and broader capabilities. Given that future growth is at the heart of the transaction, no staff departures are foreseen as a result of the transaction.

MGIM and CAIM are both successful businesses with different strengths, MGIM predominantly in multi-asset, and CAIM predominantly in fixed income and reserve management; the two investment teams are complementary with a strong cultural fit and focus of delivering on client expectations.

The transaction will deliver significant enhancements to in-house capabilities and a stronger platform for future growth for the two businesses. As a result, clients of both businesses should benefit from the combined business post acquisition.

Ferdi van Heerden, MGIM CEO said: “This is a very exciting acquisition. The two teams complement each other well and have a strong cultural fit albeit in very different markets. The acquisition will enable MGIM to further strengthen its in-house capabilities benefitting all investors.

The interests of all existing investors are paramount, through the stronger support that we will be able to provide to our adviser channels and partners, that will be a key focus for us as we move forward together.”

Roberts Grava, CAIM CEO said: “We are quite excited about this next phase of CAIM’s continuing evolution. Joining forces with MGIM allows us to broaden and deepen our accessible investment talent, operational resources and distribution capabilities. CAIM’s current and future clients can expect the same dedicated focus on support, engagement and alpha generation in customised solutions tailored to the specific and evolving objectives of each client. Moreover, MGIM’s acquisition will allow us to offer clients a much broader array of investment solutions to meet their needs.

CAIM seeks to be a Trusted Advisor to each of its clients, even beyond the management of investment portfolios. Working together with MGIM, we will be able to offer our valued investment and advisory services with even greater resources and insight.”

ENDS

NOTES TO EDITORS:

MGIM – Momentum Global Investment Management Limited

MGIM was established in the UK in 1998 and focuses on designing, building and managing outcome-based investment solutions, delivered through single and multi-asset portfolios, and tailored client solutions.

The company provides specialist investment management services to institutional clients, financial intermediaries and their clients in the UK and Europe, Asia and the Middle East, South America and South Africa.

MGIM has $5.5 billion assets under management and is a wholly owned subsidiary of Momentum Metropolitan Holdings Limited (Momentum Metropolitan), a large South African insurance and investment business, listed on the Johannesburg Stock Exchange. Momentum Metropolitan employs close to 18,000 people and its subsidiary companies manage over $43.6 billion of investment assets.

CAIM – Crown Agents Investment Management

CAIM has $2.8 billion assets under management and is a specialist fixed income and multi-asset institutional investment manager which is headquartered in Sutton. The investment team have a strong commitment to meeting the investment goals of their clients, which includes central banks, sovereign funds, pension funds, financial institutions and other institutional investors in some of the world’s fastest growing economies. CAIM aim to be the key strategic partner for both clients in their focus regions and the OECD organisations who wish to trade with them. CAIM, formally incorporated in 1987, can trace its roots back to 1749 and its
predecessor organisations have provided financial services to their focus markets since 1833.

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