Financial adviser to Vontobel on the acquisition of its remaining stake in TwentyFour AM.
On 30 June 2021, Vontobel announced the accelerated acquisition of the remaining 40% stake in TwentyFour Asset Management LLP (“TwentyFour”), a CHF 24.2bn specialist fixed income boutique based in London.
After acquiring a 60% stake in TwentyFour in 2015, Vontobel was committed to acquire the remaining 40% in two equal tranches in 2021 and 2023. TwentyFour’s Partners and Vontobel have now agreed that Vontobel will acquire the remaining 40% in one tranche on 30 June 2021.
TwentyFour will remain operationally independent and will continue to service its clients from offices in London and New York, as well as via Vontobel’s international network. Since the acquisition of the majority stake of 60% in 2015, all TwentyFour Partners have continued to play an active role in the company’s day-to-day operations. The partners and portfolio management teams remain committed to serving the interests of clients and ensuring the investment boutique’s ongoing success, hence will continue to serve as a driver of growth for Vontobel.
Since Vontobel acquired a stake in the business (2015), TwentyFour’s advised client assets have increased from CHF 6.4bn to CHF 24.2bn (as of December 31, 2020).
The acquisition will be fully financed out of Vontobel’s own funds. Part of the transaction will be paid in the form of Vontobel shares, further underscoring the commitment of TwentyFour’s Partners.
VONTOBEL ASSET MANAGEMENT
Vontobel Asset Management is an active global multi-boutique asset manager with specialist investment expertise in Quality Growth and Sustainable Equities, Multi Asset Class, Fixed Income and Alternatives. Each boutique is run as an independent centre of expertise. Vontobel has a successful innovative product range and is strongly committed to further develop and expand its Fixed Income boutique on a global scale and strengthen its access to the UK market.
TWENTYFOUR ASSET MANAGEMENT
TwentyFour Asset Management is a London based independent fixed income specialist founded in 2008 as a partnership with leading capabilities in asset backed securities and unconstrained fixed income. The firm has a diverse client base in the UK, spanning wholesale as well as institutional clients, which it services via segregated mandates and a range of pooled investment vehicles. The highly transparent products benefit from a rigorous detail-oriented investment approach, in order to achieve superior risk-adjusted returns whilst retaining a strong focus on capital preservation.
Link was one of the founding members of the modern credit and collections industry in Europe and has been at the forefront of innovation ever since. Link’s proprietary operational platform allows its business to service a range of asset types from within and outside the financial services industry.
SHP acted as financial adviser to Vontobel both on the acquisition of the initial 60% and the accelerated acquisition of the remaining 40%.