Standard Life Investments has agreed to buy Ignis Asset Management for £390m, in a move which will also see the group work more closely with Ignis' parent Phoenix Group.
The transaction will be settled in cash and will add £59bn to SLI's existing assets under management of £184bn. SLI said the acquisition is set to enhance its investment capabilities and broaden its third party client base. The combined business will offer a full range of investment solutions, including active management for institutional and wholesale clients, discretionary wealth management and outcome orientated products. As part of the transaction, SLI will enter into a strategic alliance with Phoenix allowing it to provide asset management services to its life company subsidia...
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