Liontrust strikes River Global deal as UK asset managers consolidate

River Global

16/03/2026 07:44

March 16 (Reuters) - Britain's Liontrust Asset Management agreed on Monday to buy the asset management arm of River Global for up to 9.7 million pounds ($12.9 million) in shares, as fund managers continue consolidating under pressure from margins strain and outflows.

The deal for River Global Holdings highlights ongoing industry consolidation as firms seek scale and diversification to navigate fee pressure and a shift in investor preferences toward passive strategies.

Liontrust LIO.L will pay 7.6 million pounds for RGH's core business, satisfied through the issue of nearly 3 million new shares.

The deal value could include up to 2.1 million pounds in additional shares, contingent on the transfer of assets from the European Opportunities Trust to a successor fund.

Liontrust, which manages about 21.5 billion pounds in assets, said the acquisition would add complementary value-focused investment capabilities, meet client demand and broaden sources of performance through the market cycle.

Industry veteran Martin Gilbert, executive chairman of River Global RVRGa.L, will join Liontrust's board as a non-executive director upon the deal's completion.

The transaction is expected to be earnings-accretive in the financial year ending March 2027 and "materially accretive" thereafter.

River Global's largest shareholders, holding 22.3% of its share capital, have agreed to two-year lock-up arrangements on the Liontrust shares they receive, the company said.

($1 = 0.7547 pounds)

 (Reporting by Yamini Kalia in Bengaluru; Editing by Sumana Nandy)

 ((Yamini.Kalia@thomsonreuters.com;))