Acquisition
BT Investment Management Limited (BTIM) announced the acquisition of J O Hambro Capital Management, a privately owned, London-based, boutique, active equity investment manager with £7.1 billion (A$10.7 billion) of funds under management (FUM), for a purchase price of £209 million (A$314 million). The acquisition has been funded by BTIM through a combination of equity, debt and cash.
BTIM undertook a 4 for 5 pro rata entitlement offer at an offer price of $2.15 per share. It raised A$232 million to partially fund the acquisition of J O Hambro Capital Management.
Acquisition highlights
Key highlights for the acquisition include:
- London-based, boutique, active equity investment manager
- FUM of £7.1 billion across 15 investment strategies
- Consistent with BTIM’s stated strategy
- Complementary investment capabilities and strong cultural fit
- Will drive growth, increase margins and enhance diversification
- Creates a diversified investment management business with two powerful brands.
