Standard Life Investments secures £390m deal for Ignis

SLI said the deal, subject to Financial Conduct Authority (FCA) approval, would deepen its investment capabilities, particularly in the absolute return space, and broaden its third party client base. It described Ignis as a top 15 asset manager in the UK with £59bn of assets under management as at 31 December 2013. It earned revenues of £150m and generated EBITDA of £52m in 2013. It added the combined business will offer a full range of investment solutions, including active management for institutional and wholesale clients, discretionary wealth management for high net worth private ...