TwentyFour will be entering into a strategic partnership with Vontobel Asset Management (“Vontobel”), the multi-boutique asset manager and subsidiary of the Vontobel Group.
Vontobel will acquire a 60% shareholding in our Company, with the working partners retaining a 40% stake in the business. They will remain fully committed to TwentyFour with long-term lock-ins.
TwentyFour will remain autonomous, run by the partners with full control over day-to-day business decisions. Our investment strategies will continue to be managed by the existing team, retaining the same investment process. Continued attention will be paid to delivering strong investment returns while being mindful of capacity constraints. To further strengthen alignment, the Partners have agreed to reinvest a significant share of their consideration into existing TwentyFour funds.
This is a one-off opportunity to achieve our goals and vision for TwentyFour without compromising on our boutique approach and culture. This partnership unites TwentyFour’s existing entrepreneurial and focused investment approach with the stability and financial strength of an established European financial institution. Vontobel is a family-controlled business with a long heritage and is listed with a market cap of £1.8 billion. They have an established footprint across continental Europe and the US with total assets under management of US$83 billion.
Our clients have always remained our number one priority. We believe that we have procured an ideal long-term partner in Vontobel, supportive of our existing business and ambitious plans. From Vontobel’s perspective, the transaction strengthens its presence in the UK market, extends its fixed income product offering and underlines its commitment to broaden its asset management business through targeted investments.
If you have any questions or would like further information, please do not hesitate to contact John Magrath on 0207 015 8912 or by e-mail at John.Magrath@twentyfouram.com
Graeme Anderson, Chairman & Mark Holman, CEO