Liontrust Asset Management (LSE:LIO) has agreed to acquire the fund management and model portfolio services operations of Hawksmoor Fund Management and Hawksmoor Investment Services in a cash transaction worth up to £10 million.
The assets are being acquired from Hawksmoor Investment Management Limited, a subsidiary of Shackleton Advisers, and comprise approximately £1.9 billion of assets under management and advice.
The acquired operations include multi-asset funds, segregated mandates and model portfolio services. Liontrust said the transaction will be funded entirely from its existing cash resources.
Hawksmoor Investment Team to Join Liontrust
As part of the transaction, Hawksmoor investment professionals led by Ben Conway and Richard Philbin will join Liontrust’s Multi-Asset business.
The Hawksmoor team uses a valuation-led, bottom-up investment process across its outcome-based funds. Its products include exposure to investment trusts and listed alternative investments.
Liontrust said the Hawksmoor range will complement its existing target-risk funds and broaden the investment products it provides to financial advisers.
Selected Hawksmoor employees will also transfer to Liontrust as part of the transaction.
Acquired Business Generates £4.8 Million in Run-Rate Revenue
The Hawksmoor operations being acquired generate approximately £4.8 million in run-rate revenue.
Liontrust expects the acquisition to be earnings enhancing before taking account of potential synergies. The company expects to incur approximately £1.9 million of exceptional transaction and reorganisation costs associated with the deal.
The acquisition will also add financial adviser relationships and strategic partners that currently use Hawksmoor’s model portfolio services to Liontrust’s client base.
Liontrust said it intends to use its existing sales and marketing operations to support distribution of the acquired investment products.
Completion Expected by End of 2026
Completion remains subject to customary closing conditions and is expected by 31 December 2026.
Following completion, Liontrust plans to integrate the acquired operations into its existing Multi-Asset business.
The company said the acquisition forms part of its strategy to expand its presence in the UK financial adviser market, including demand from advisers outsourcing portfolio construction and investment management.
Liontrust’s Multi-Asset Business
Liontrust Asset Management is an independent active asset manager offering investment funds and portfolio services, including multi-asset products and model portfolios for financial advisers.
The group has been expanding its Multi-Asset capabilities and distribution operations, with the Hawksmoor transaction adding investment products, personnel and assets under management and advice to its existing business.
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