The Real Return Holding Co. will take a 25% stake in Avebury Asset Management for an undisclosed amount. Real Return is the parent of Veritas Asset Management. As part of the deal, Avebury will manage global bonds and currencies for Veritas' multiasset mandates run for European high-net-worth clients and institutions, said Avebury founder and CEO Michael Daley.
Avebury, a currency and global fixed-income specialist with a U.S. client base, has assets under management of $140 million. The firm was launched in 2000. Veritas has £425 million ($821.87 million) in assets under management.