It has emerged that Aviva Investors has taken a significant position in newly listed River & Mercantile.
According to a regulatory filing at the end of last week, Aviva Investors bought around six million shares in the boutique representing a 7.3% interest.
On 23 June, River & Mercantile disclosed an offer price of 183p, giving the firm a market capitalisation of £150.2 million.
The firm is putting 27.6% of it share capital on the market. Selling shareholders include Punter Southall Group, Pacific Investments Management and the firm's founder Sir John Beckwith.
The company expects to raise £15 million, which it intends to invest in its advisory and asset management capabilities in both the UK and abroad.
'The group is well positioned to capitalise on the "pensions revolution" and the increasing importance of governance to clients' investment strategies,' River & Mercantile chief executive Mike Faulkner told the market.
'We look forward to building on our strong investment performance and high levels of client satisfaction.'