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Tilney Bestinvest to acquire Ingenious Asset Management

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Tilney Bestinvest is to acquire Ingenious Asset Management, a London based discretionary investment manager which services high net worth and ultra-high net worth clients and offers investment services to financial advisers.

Ingenious Asset Management is responsible for over GBP1.8 billion of client assets and has 41 staff based in London. The transaction is anticipated to complete in April, subject to regulatory approval.
The combination represents another major milestone for Tilney Bestinvest, which was created from the successful merger of Bestinvest and Tilney Investment Management in 2014. Upon completion of the acquisition of Ingenious Asset Management, the enlarged group will be responsible for GBP11.2 billion of assets, of which over 80 percent will be managed or advised.
 
Since the acquisition of Bestinvest by the Permira Funds in 2014, the business will have more than doubled its assets under management from GBP5 billion to GBP11.2 billion and is amongst the fastest growing wealth managers in the UK. The combined business will have over 500 staff across the UK operating from 15 offices including five investment management locations. The combination will see Tilney Bestinvest’s investment management team in London double in size and additionally it will boost the size of the group’s financial intermediary business development team, supporting its strategy of growing its relationships with financial advisers.
 
Guy Bowles, Chief Executive of Ingenious Asset Management, will become Head of Investment Management (London) for Tilney Bestinvest and David Rosier, Chairman of Thurleigh Investment Managers, will become a Senior Adviser to Tilney Bestinvest Group. 

Peter Hall (pictured), Chief Executive of Tilney Bestinvest, says: “The acquisition of Ingenious Asset Management will significantly increase our investment management capability in London and our business supporting financial intermediaries. The team at Ingenious Asset Management are very high quality professionals and their investment approach is complementary to our own so we believe this represents an excellent combination.”

Guy Bowles, Chief Executive of Ingenious Asset Management, says: “When we launched Ingenious Asset Management in 2003, we were determined to create a business that combined modern investment techniques with a traditional emphasis on delivering a highly personal service. In Tilney Bestinvest we have found a firm which very much shares that approach and has a similar investment process to our own, with a strong emphasis on proprietary investment research. Tilney Bestinvest is also investing heavily in systems and has an excellent infrastructure to support and grow a modern investment management business.”

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