BNP Paribas Investment Partners has strengthened its FundQuest multi-manager brand by acquiring London-based firm IMS Group.
Established by Richard Timberlake and Peter O’Connor in 1999, IMS has £5.1bn under management and advisory in its manager of managers and fund of funds mandates.
IMS CEO Antony John and CIO Giles Gilbertson will continue in their current capacity, with Timberlake and O’Connor remaining as directors.
BNP Paribas Investment Partners head Gilles Glicenstein says the acquisition is a new step in FundQuest’s multi-specialists strategy.
“The UK market remains a priority for the development of BNP Paribas Investment Partners, and with this alliance FundQuest gains momentum as a global multi-manager and open architecture services provider, a market that is expected to grow by nearly 20% a year,” he says.
FundQuest global head Michel Anastassiades adds: “We share the same key principles of selecting external managers on investment merit and constructing portfolios that ensure performance consistency over the long-term.”
Meanwhile, Rathbones has announced it has completed the acquisition of Exeter-based advisory firm Citywall Financial Management.
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