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

Baillie Gifford workforce faces 10% reduction following voluntary exit programme

Baillie Gifford workforce faces 10% reduction following voluntary exit programme

Around 160 roles vacated

clock 23 September 2026 • 1 min read
Nine SJP funds flagged for underperformance in AoV despite improvements on last year

Nine SJP funds flagged for underperformance in AoV despite improvements on last year

89% of assets given green light

Alex Sebastian
clock 22 September 2026 • 2 min read
The human advantage in an AI-powered asset management industry

The human advantage in an AI-powered asset management industry

'AI should be used to enhance, not replace, human engagement'

Apiramy Jeyarajah
clock 22 September 2026 • 5 min read