Liontrust acquires rival manager GAM adding £21bn in AUM

GAM's investment management division has £21bn assets under management and administration as at 3 March 2023, and the acquisition will create a global asset manager with £53bn in AuMA. The financial terms of the deal were not disclosed, but Liontrust said the consideration "will be satisfied" by the issue of 9.4 million new ordinary Liontrust shares, with GAM expected to own approximately 12.6% of the combined group. Liontrust chief executive (CEO) John Ions said the deal is a "significant acquisition" as it accelerates Liontrust's growth by enhancing its global distribution, product ...