TRANSACTION SUMMARY

On 5 February 2016, Tilney Bestinvest (TBI) announced the acquisition of Ingenious Asset Management (IAM). IAM is a discretionary investment manager which services high net worth and ultra-high net worth clients and offers investment services to financial advisers. Upon completion of the acquisition of IAM, the enlarged group will be responsible for £11.2 billion of assets, of which over 80% will be managed or advised, and will have over 500 staff across the UK operating from 15 offices including five investment management locations.

INGENIOUS ASSET MANAGEMENT

IAM was established in 2003. The vast majority of its client base is discretionary, and it primarily manages assets in global multi-asset portfolios, mainly investing through collectives. It is responsible for over £1.8 billion (as at February 2016) of client assets and has 41 staff based in London.

TILNEY BESTINVEST

TBI is an investment and financial planning firm, backed by the Permira funds, responsible for over £9 billion of AUM (as at February 2016). TBI offers, inter alia, discretionary investment management, investment advisory and financial planning services.

ROLE

Spencer House Partners advised Ingenious Asset Management Group Limited on the transaction.