London-based multi-family office Fleming Family & Partners has acquired Sagitta Asset Management, according to a source close to both partie...

London-based multi-family office Fleming Family & Partners has acquired Sagitta Asset Management, according to a source close to both parties. The development would confirm speculation about the acquisition of Sagitta since August when a report appeared in the Sunday Times about a possible deal between the two money managers. Sagitta has around £773 million ($1.3 billion) of assets under management, most of it money from Wafic Said, the Syrian-born philanthropist and arms dealer. FF&P reported AUMs of £2.34 billion at the firm’s financial year end (March 31, 2005). A spokesman for FF&P was unable to comment on the speculation surrounding the possible deal. WealthBriefing was unable to get hold of Sagitta for comment.