Thesis Asset Management has made the first of what it implies will be several acquisitions by buying Cambridge Fund Managers.
Discretionary firm Cambridge is based in Bath, and has around £30m in funds under management.
Thesis was acquired by its management earlier this year, and the deal announced this morning is part of a wider expansion strategy, with the company interested in acquiring small discretionary fund managers.
Cambridge Fund Managers was owned by Henry Cottrell.
Lawrence Cook, director of marketing and business development at Thesis, said: “The management buyout earlier this year has resulted in a more expansive attitude for the company, and this deal is part of the growth that we want to achieve.
"Henry has built a fantastic company, but understands the need to implement a successful succession strategy to ensure his clients have a positive experience. We are delighted to work with him in achieving this.”
The deal is expected to complete on New Year’s Eve 2017, with about 80 clients potentially moving across to Thesis.