Ashurst advises Vontobel on acquisition of majority stake in TwentyFour Asset Management

Ashurst advised Vontobel Asset Management, the global multi-boutique asset management division of Vontobel ('Vontobel'), on the agreement to acquire a 60% stake in TwentyFour Asset Management, a fast growing independent fixed income specialist based in London.

The transaction strengthens Vontobel's presence in the UK market, extends its fixed income product offering and underlines its commitment to broaden its asset management business through targeted investments. After the transaction, the combined business will have approximately £12 billion of total fixed income assets under management.

The deal is subject to regulatory approval and it is expected to close in the second quarter.

The Ashurst team was led by corporate partner Nick Bryans, assisted by senior associate Audrius Skeivys and solicitors Andrew McLaren and trainees Emma Camilleri and Alex Underwood. Partner Richard Palmer and associate Ceri Stoner advised on the tax aspects of the transaction, while partner Jonathan Haines, assisted by Zara Statter, Josh Ludlow, Jenny Wan provided advice on financing and derivatives related matters. Senior associate Jake Green supported by solicitor Emily Torrens assisted on the regulatory matters. The pensions advice was led by senior associate Andy Wright and Annie Morrin. Louise Thawley, Dominic Boon, Annie Morrin and Katy Bradfield advised on the employment matters of the transaction. Counsel Jonathon Hoare (real estate) and Caroline Hogan and Danica Barley (IP & data protection) also assisted on the deal.