Sale of Crown Agents Investment Management to Momentum Global Investment Management

IMAS acted as the exclusive financial adviser to Crown Agents Bank in the sale of Crown Agents Investment Management (CAIM) to Momentum Global Investment Management Limited (MGIM), the UK-based subsidiary of Momentum Metropolitan Holdings Limited, the South African insurance and investment business, listed on the Johannesburg Stock Exchange.

Headquartered in Sutton, CAIM is a specialist fixed income and multi-asset institutional investment manager for central banks, sovereign funds, pension funds, financial institutions and other institutional investors in some of the world’s fastest growing economies. Formally incorporated in 1987, CAIM can trace its roots back to 1749 and its predecessor organisations have provided financial services to their focus markets since 1833.

MGIM was established in the UK in 1998 and focuses on designing, building and managing outcome-based investment solutions, delivered through single and multi-asset portfolios, and tailored client solutions for institutional clients, financial intermediaries and their clients in the UK and Europe, Asia and the Middle East, South America and South Africa.

Together the businesses will operate with combined assets of $8.3 billion managed on behalf of clients globally. With a strong cultural fit and complementary strengths, MGIM predominantly in multi-asset and CAIM in fixed income and reserve management, they will be able to provide an enhanced offering and broader capabilities to its clients, creating a stronger platform for future growth for the two businesses.

IMAS was retained by Cabim Limited, owner of CAIM, and was responsible for planning and managing the entire transaction process, including the initial preparations, approaches to and discussions with prospective buyers through to the ultimate closing of the transaction. Our work included a comprehensive review of the sector, specific valuation advice and assisting in the detailed negotiations on the initial and final terms of the deal.