Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Bob Morton buys major stake in Peter Webb’s fund firm

Bob Morton buys major stake in Peter Webb’s fund firm

Peter Webb’s fledgling asset management firm has received significant investment from serial entrepreneur Bob Morton.

Morton’s investment in Webb Capital is believed to be several hundred thousand pounds and will be used towards funding organic growth and new product development. Morton, who sits on the boards of numerous small cap firms, has also promised Webb further capital for acquisition opportunities.

In addition, Morton’s personal investment vehicle Hawk Investments, which established a family office in Jersey in the second half of last year that controls £500 million in assets, has bought a 29.99% stake in Webb Capital.   

Webb (pictured) first crossed paths with Morton in the late 1980s when the former was working for Thornton Investment Management.

The pair have been co-investors in a number of small caps during their careers and remained close friends as Webb went on to found Unicorn Asset Management, before establishing his current venture two years ago.

The investment is a major boost for Webb Capital in its push to gain a foothold in the ultra-competitive asset management sector.

The business controls a relatively small £22 million in assets, including the top performing Elite Webb Smaller Companies Income & Growth fund, which has returned 42% over the 12 months to the end of May versus a sector average of 12.3% to propel it to the top of its 107-strong peer group.

Webb told Wealth Manager: ‘I have known Bob Morton for many years and have the greatest respect for everything that he has achieved during a successful lifetime in business and in markets.

‘The establishment of the new Hawk family office in the Channel Islands, headed up by Bob’s youngest son Robert, has created the ideal moment for us to cement our good relationship and work even more closely together in the months and years ahead. Indeed, these are exciting times.

Webb believes his business offers an ideal platform for young talented fund managers and will use Morton’s cash to acquire individuals and teams which fit the culture.

‘We would like to get more funds under management and acquire teams and managers which share our ethos,’ he said. ‘We have a clean structure and can incentivise new joiners. I’ve always been a keen fan of an equity ownership structure.

‘If we’re going to take market share from our very good and successful competitors we will have to be very fleet-footed and innovative. We will have to walk down a few different paths.’ 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Navigating geopolitical risk with ETFs

Navigating geopolitical risk with ETFs

ETFGI’s Deborah Fuhr on how investors can use exchange-traded funds to position their portfolio.

Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Your Business: Cover Star Club

Profile: Barclays' former advisory boss on his move into property

Profile: Barclays' former advisory boss on his move into property

On paper, Rick Denton might have been expected to finish his career in banking

Wealth Manager on Twitter