Ashcombe advises Cavendish Asset Management on sale to Stonehage Fleming
Ashcombe is pleased to announce that it has advised Cavendish Asset Management (“Cavendish”) on the sale of its investment management activities to Stonehage Fleming, one of the world’s leading independently owned family offices and the largest in Europe, Middle East and Africa (EMEA).
Cavendish is a London based firm established initially to manage the Lewis family's assets; over time it expanded to look after institutional and professional clients including a number of ultra-high-net-worth individuals (UHNWI) and families.
As part of the acquisition, Stonehage Fleming Investment Management (“SFIM”) will take over the management of all client portfolios and Cavendish’s range of four OEIC funds - the Cavendish International Fund, Opportunities Fund, AIM Fund, and Balanced Income Fund. The funds will be rebranded under Stonehage Fleming and will sit alongside its existing range of collective vehicles.
Michael Rosehill, Managing Director of Blue Coast Capital, Cavendish’s parent company, said:
“Stonehage Fleming is a highly successful firm with an outstanding, award-winning proposition and a client-centric approach, and will provide an excellent home for our clients and our people. We have known the Ashcombe team for many years and were very confident that their experience and extensive relationships would help us structure and complete a successful transaction for Cavendish.”