Brooks Macdonald set to acquire risk-rated fund group

The deal would see Brooks take over ownership of two funds of which it is currently investment adviser: TM Levitas A and TM Levitas B. Launched in July 2012, the funds have combined AUM of £60.5m, expected to rise to £150m by 30 June 2014 and £250m by 30 June 2015. "We are very excited about the opportunity of working with Levitas. We already have the privilege of managing these funds and we believe that the potential for growth in the future is significant," said Brooks CEO Chris Macdonald. The consideration payable by Brooks - upon exercise of options between July and August 201...