Clifford Chance has advised Jupiter Fund Management plc on its acquisition.
The upfront equity consideration of £370 million is to be satisfied in Jupiter shares.
The acquisition enhances Jupiter’s position as one of the UK’s leading active asset managers with more than £65 billion of AUM and reinforces Jupiter’s core UK franchise by extending capabilities into attractive product gaps. The deal diversifies Jupiter’s existing business with the current top five funds falling from 46 per cent of AUM to 33 per cent of the AUM of the enlarged Group; and the number of funds with greater than £1 billion of AUM increasing from 10 to 16.
Completion of the transaction is subject to receipt of customary regulatory consents and approval by Jupiter’s shareholders in general meeting.
Merian Global Investors Limited is an active asset management firm with more than £22 billion of AUM.
Jupiter Fund Management plc, the independent active asset management business with approximately £42.8 billion assets under management.
The Clifford Chance M&A team comprised Corporate Partner David Pudge (Picture), Senior Associate Nick Spurrell, Associates Olivia Higgs, Catherine Freeman and Jasmine Jimenez, and Trainee Solicitors Lucinda Bayley and Toyo Odetunde. Partner Simon Crown advised on the regulatory aspects, Partner Sonia Gilbert advised on incentives, Partner Alistair Woodland on employment, Nick Mace on Tax, and Partner Iain Hunter, Senior Associate James Spencer and Lawyer Yuli Adagun on equity capital markets.
Involved fees earner: Yuli Adagun – Clifford Chance; Simon Crown – Clifford Chance; Catherine Freeman – Clifford Chance; Sonia Gilbert – Clifford Chance; Olivia Higgs – Clifford Chance; Iain Hunter – Clifford Chance; Jasmine Jimenez – Clifford Chance; Nick Mace – Clifford Chance; David Pudge – Clifford Chance; James Spencer – Clifford Chance; Nick Spurrell – Clifford Chance; Alistair Woodland – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Jupiter Fund Management plc;