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Swiss firm Hansa to buy SVG Investment Managers

by Dylan Lobo on Aug 12, 2013 at 09:45

Swiss firm Hansa to buy SVG Investment Managers

Switzerland's Hansa Aktiengesellschaft has struck a deal to buy investment boutique SVG Investment Managers (SVGIM).

The deal, which remains subject to regulatory approval, will see Hansa increase its $1.8 billion (£1.2 billion) in assets under management by a further £200 million.

As part of the arrangement Hansa will become the majority stakeholder in SVGIM, with the senior management of SVGIM holding a significant minority stake.

Hansa will also acquire SVG Capital’s holdings in a number of SVGIM managed funds. SVGIM said the transaction will provide with increased capital backing and a significant platform for growth.

Under the new structure, SVGIM will continue to operate its existing managed funds as before, which includes the SVG UK Focus fund, managed by Citywire AAA-rated Jamie Seaton, alongside the Strategic Equity Capital , a London-listed investment trust.

There will be no changes to the existing fund manager teams, who will retain complete investment autonomy, while SVGIM will continue under its own brand for the immediate future with a rebrand anticipated in due course.

Commenting on the deal, Hansa chairman, Georg von Opel, said: 'Our vision is to build a world class asset manager, with a focus on unconstrained investment in high quality public companies and constructive corporate engagement.

'SVGIM is a unique business with a proven track record in this style of investing. We believe we have found the ideal partner and look forward to developing this business.'

Meanwhile SVGIM chief executive Adam Steiner (pictured) said: ''The acquisition of SVGIM by Hansa will provide an excellent opportunity to develop our existing business and extend our capabilities and offering to discretionary and institutional clients.'

Steiner added: SVG Capital has remained a supportive parent since the business started in 2002 and has received a significant  number of unsolicited inquiries about our business. Like any business, if an opportunity comes along that is good for our clients, good for SVG Capital’s shareholders and good for the team it is sensible to consider it.

'Hansa is attracted to our investment approach, which is very similar to its own philosophy, making it a great fit. The objective of the deal for Hansa is to work with the team to build a world class asset manager focused on unconstrained investment and constructive corporate engagement, and in addition to get the benefit of our advice in relation to their existing portfolios.'

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Look up the funds

  • SVG UK Focus I
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Look up the investment trusts

  • Strategic Equity Capital (Ordinary Share)
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Look up the fund managers

  • Jamie Seaton
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