Rathbones agrees deals for Jupiter and Tilney private client businesses

clock

Rathbones has won the £43m race to buy Jupiter's private client arm and is also to purchase part of Tilney IM"s private client business in a separate £14m deal.

Rathbones said it has raised £24.4m via a share placing to help fund the deals, which will boost its funds under management by 12.7% to £24.8bn on a pro-forma basis. The all-cash deal to buy Jupiter's wealth business will see it pay £43m, assuming all the relevant assets transfer to Rathbones. Depending on AUM at the expected Q3 2014 completion date, however, the final amount could be anywhere between £32m and £54m. As at 31 December 2013, Jupiter's private client AUM totalled roughly £2.2bn. Approximately 30% of the in-scope private client assets are held in Jupiter funds. Som...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Why the bull market in precious metals may be starting again

Why the bull market in precious metals may be starting again

Silver and gold again – who would have thought it?

Paul Wood
clock 20 May 2026 • 2 min read
Omnis Investments launches passive range for Openwork and 2plan advisers

Omnis Investments launches passive range for Openwork and 2plan advisers

L&G to run day-to-day investment management

Patrick Brusnahan
clock 19 May 2026 • 2 min read
Digital bank Zopa gains targeted support authorisation

Digital bank Zopa gains targeted support authorisation

Receives regulatory approval for investment products

Sophia Panayi
clock 19 May 2026 • 1 min read