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th December 2020 8:31 am
Polar Capital Holdings has agreed to acquire 100 per cent of the issued share capital of boutique asset manager Dalton Strategic Partnership in a deal expected to be worth around £15.6m.
Dalton has £1.24bn assets under management. The is made up of £1.12bn in the Melchior European Opportunities Fund and related segregated accounts, managed by David Robinson with the remaining in the European long/short funds managed by Leonard Charlton and three smaller Global and Asian funds managed by Nick Mottram.
The Velox Fund which is on the Dalton platform is not part of the transaction.
Polar says the deal forms part of its growth and diversification strategy. It will pay £8.3m upfront and the rest will be 12-months after completion and linked to performance taking account of the AUM at the time.