The proposed acquisition is expected to complete in April 2017.
Liontrust will purchase the entire issued share capital of Alliance Trust Investments for up to £30 million. The proposed acquisition is expected to increase Liontrust’s assets under management by around £2.3 billion to more than £8 billion.
The announcement comes after a strategic review of Alliance Trust which was initiated by the company’s board earlier this year to look at enhancing shareholder value.
The ATI investment team, which is headed by Peter Michaelis and manages 11 sustainable investment funds, brings a range of equity and fixed income funds. Michaelis’ own experience includes various roles at Aviva Investors over 11 years, including as head of sustainable and responsible investment and head of equities before moving to ATI in 2012.
“The acquisition of ATI puts us in a very strong position to meet this demand [for sustainable investment]. We look forward to promoting the team and the sustainable investment funds in the UK and across continental Europe,” said John Ions, chief executive of Liontrust.
It has not yet been confirmed whether there will be any duplication or loss of jobs.