Alquity’s acquisition of Luxembourg-based VAM Funds will see its assets under management rise to more than $470m and its revenue increase from $1.76m to $7.68m, said the investment manager in a published on 23 October.

“This strategic acquisition creates a fast growing, high-quality international investment management platform that offers the best of the best investment access for advisers alongside award winning service,” said Paul Robinson, founder and executive chairman of Alquity, a responsible investment manager with headquarters in London. “We look forward to building on our relationships with exceptional fund managers, Driehaus Capital Management, atomos/WTW, and Foresight to continue to offer clients a broad choice of strong-performing investment options.”

The first addition to VAM’s platform will be Alquity’s Indian Subcontinent Fund, which has a 5-globe rating from Morningstar, meaning the fund has low ESG risk.

Peter de Putron retires

The two companies will remain separate brands, noted the press release, and VAM Funds’ clients will maintain access to the current range of funds and services.

The acquisition comes after the retirement of VAM Funds’ founder.

“After 40 years in the financial services industry the time has come for me to retire,” said Peter de Putron, chairman and founder of VAM Funds, which was established in 2001 and is regulated in Luxembourg under Undertaking for collective investment in transferable securities (Ucit) V legislation. “As part of my succession plan, I have sought out a team to take VAM on the next phase of its journey and I am delighted that Alquity will be that team.”