Momentum acquires $2.8bn Crown Agents IM

$8.3bn combined AUM

London-based Momentum Global Investment Management (MGIM) has acquired Crown Agents Investment Management.

The deal, which has received UK regulatory approval, brings MGIM assets under management to $8.3bn Seeking to complement each other with the acquisition, the firm noted that CAIM mainly focuses on fixed income and reserve management, while MGIM predominantly focuses on multi-asset. MGIM added that all CAIM staff will be transitioning to MGIM's London head office post-acquisition. No staff departures are foreseen as a result of the transaction, it said. Ferdi van Heerden, MGIM CEO, said the two team will "complement each other well", with a strong cultural fit. Swiss prosecutor p...