GWM Investment Management acquired a majority stake in institutional and private wealth money manager Optimus Capital, a spokesman said.
GWM, an investment consultant and wealth manager, did not disclose the specific size of the stake or value of the deal , which has closed, according to the spokesman.
"(Optimus') consolidated offering of asset management, private equity and quantitative research capability makes it the perfect partner for GWM, and will be invaluable in strengthening our investment proposition," said Chris Payne, managing director at GWM, in a news release.
Martin Newson, CEO and chief investment officer at Optimus Capital, said in the release: "This partnership is a reflection of how far Optimus has come in the last few years. GWM Investment Management has built a wealth and investment offering that we are hugely excited to be part of. We look forward to developing the business and continuing to provide our clients with high-quality dedicated wealth and investment management services."
Parent company GWM Group has a total of £2.6 billion ($3.5 billion) in assets under management. Optimus Capital's AUM could not be learned.
