Vontobel has accelerated the acquisition of the remaining 40% stake in TwentyFour Asset Management, consolidating its position in the UK fixed income market.

Information on the Target

On June 30, 2021, Vontobel announced its accelerated purchase of the remaining 40% stake in TwentyFour Asset Management LLP, a London-based boutique asset manager specializing in fixed income with assets under management totaling CHF 24.2 billion. Vontobel initially acquired a 60% stake in TwentyFour in 2015 and had planned the acquisition of the remaining shares in two equal phases for 2021 and 2023. However, both TwentyFour’s Partners and Vontobel agreed to finalize the acquisition of the 40% stake in a single transaction.

Despite the acquisition, TwentyFour will maintain its operational independence, continuing to serve its clients from offices located in London and New York while leveraging Vontobel’s international network. Since Vontobel's initial investment, TwentyFour has experienced substantial growth, with advised client assets increasing from CHF 6.4 billion to CHF 24.2 billion up to the end of December 2020.

Industry Overview in the Target’s Specific Country

The fixed income market in the UK plays a crucial role in the global financial landscape, benefiting from a well-established regulatory framework and a diverse pool of institutional and retail investors. The market is characterized by a variety of investment produ