Jupiter Asset Management has announced a proposed acquisition of the investment team and assets managed by Origin, a London-based, global investment boutique, “as part of the wider review of the firm’s emerging markets franchise,” according to a statement by the asset manager.
Under the terms of the deal, over £800m ($1.05bn) of mainly institutional assets currently managed by Origin will transfer to Jupiter, subject to customary approvals and consents.
The assets that would transfer to Jupiter are predominantly held in long-standing institutional segregated mandates for a globally diversified client base, spanning Europe, Canada and Australia.
The acquisition is consistent with the strategy of building scale across the firm, including in the strategically important growth areas of the institutional client channel and the group’s international business, said the statement.
Origin brings Jupiter additional scale in global emerging markets and provides international ex-US, and global smaller companies investment capabilities, areas of identified demand that broaden the firm’s ability to appeal to a wider range of clients.
Kiran Nandra, head of equities, at Jupiter Asset Management, said: “In addition to bolstering our global equities range and giving us a new global smaller companies capability, the acquisition is an important part of our efforts to increase scale across our emerging markets capabilities as we look to build truly differentiated investment propositions.”
The Origin investment team consists of five investment professionals, all of whom will move to Jupiter on completion of the transaction, with their investment process remaining intact.
Origin invests using a quantitative screening approach, combining proprietary algorithms and data with qualitative due diligence from its experienced investment team.
Tarlock Randhawa, managing partner of Origin, commented: “The transition for our existing clients will be seamless and, indeed, we believe they stand to benefit from Jupiter’s focus on excellence in client experience.”
All of the investment team’s global emerging markets, international ex-US and global smaller companies strategies have outperformed their benchmarks over both the long term and shorter-term periods, said Jupiter.
Simultaneously, Jupiter said that Nick Payne, lead investment manager for global emerging market equities, will be leaving the business at the end of 2024 to pursue other opportunities, having spent seven years at the firm.
