Adriaan Kruger
1 minute read
15 Oct 2020
8:10 am

Momentum acquires Seneca Managers in UK

Adriaan Kruger

The acquisition of Seneca will increase MGIM’s total assets under management by nearly 15% to £4.7 billion.

Picture: Momentum/Twitter

Momentum’s international investment management division, Momentum Global Investment Management (MGIM), has reached an agreement with the founding members and shareholders of Seneca Investment Managers to acquire the investment management business for an undisclosed amount. Momentum responded to queries about the purchase price and terms of the transaction, such as the usual guarantees relating to profitability of Seneca and its ability to retain clients’ funds, by saying the information is confidential. Seneca is based in Liverpool in the United Kingdom – and also has an office in London. According to a press release issued simultaneously by Seneca in the UK and...