Liontrust Asset Management agreed to acquire Architas' U.K. investment business from AXA in a £75 million ($92.5 million) deal.
The U.K. business has two legal entities: Architas Multi-Manager Ltd. and Architas Advisory Services Ltd., with £5.6 billion in assets under management and advisement.
Liontrust's total AUMA will increase to £25 billion following the close of the deal, expected before the end of the year.
The Architas U.K. fund management team, led by Sheldon Macdonald, will join Liontrust and merge with its multiasset investment team. Mr. Macdonald will become deputy head of multiasset. John Husselbee, head of multiasset at Liontrust, will lead the expanded team, a Liontrust news release said.
Architas' U.K. distribution team will also join Liontrust. The Liontrust brand will be used for all Architas strategies following the acquisition.
"The Architas U.K. investment business ... builds on and complements our existing investment solutions of multiasset portfolios, sustainable managed and equity income funds," Liontrust CEO John Ions said in the release.
Liontrust Asset Management has £19.4 billion in AUMA, with about £1 billion in institutional assets, a spokesman said. Architas' U.K. business has about £766 million in institutional assets Parent company Architas Ltd. is wholly owned by AXA.