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30 September 2014
Since initialising a formal relationship in 2009, FOUR and Sanlam have developed a strong and successful working relationship. In order to maximise the potential benefits for all stakeholders, it has been decided to bring Sanlam International Investments Limited and FOUR Capital Partners Limited closer together under a new holding company, Sanlam FOUR Investments UK Limited, in which the Sanlam Group will have an 89.7% stake. The investment teams within the existing FOUR business will retain 30% equity stakes in their specific business areas.
The transaction, which is subject to FCA approval, is an important development in Sanlam’s strategy to deliver leading edge investment solutions for its clients in the UK. Sanlam FOUR will also continue to provide investment capability to the wider Sanlam Group as it has done historically.
The combination of FOUR and Sanlam will provide critical mass, not only in terms of the development and growth of funds under management, but also in serving to attract and retain the best talent the marketplace has on offer. Both of these are essential to achieving future performance and business objectives. The transaction will have no impact on the existing investment teams or investment processes. Each team will be responsible for its own investment process and the achievement of its own investment objectives. Immediate benefits will be realised in respect of back office and operational efficiencies.
Lukas van der Walt, CEO of Sanlam UK, said “This is a very exciting development for all involved. We have been busy in recent years building the infrastructure and resources to create market leading wealth and asset management offerings in the UK. This is another important milestone on that journey.”
Derrick Dunne, Director and Founder of FOUR, said “In positioning Sanlam and FOUR closer together, we create a more diversified business with a significant increase in AUM. Underpinning the business are small specialist investment teams operating within an investment led, entrepreneurial culture. This will never change and performance will always remain each team’s focus. The ownership structure directly aligns our fund managers’ interests with those of our clients. We are very optimistic for the future. We have the perfect marriage of the strength and resource of the Sanlam Group and the focus and expertise of an investment boutique.”
Robert Roux, COO of Sanlam Investments, said “Our relationship with FOUR is very successful with the firm having delivered strong investment performance across all investment products. This is an important step to cementing that relationship and indicates Sanlam’s trust and confidence in FOUR’s capabilities. Staff will remain significant owners, and investment teams and processes will remain independent.”
For further information, please contact:
Emily Pearce FOUR Capital Partners Limited 1 Ely Place London EC1N 6RY
T 020 3116 4000
FOUR Capital Partners Limited was set up in 2006 as a UK equity specialist by its founding partners; Tom Carroll, Derrick Dunne, Chris Rodgers and Ted Williams. In 2009, FOUR established its European equity team under the leadership of Dino Fuschillo and in 2010 set up its Global equity team under the leadership of Colin McQueen. In January 2013, FOUR launched its first Multi-Strategy capability under the leadership of Mike Pinggera.
FOUR has a high level of employee ownership. Its boutique culture creates a dynamic working environment, and this, together with our distinctive investment processes, enables us to deliver superior investment returns for our clients.
FOUR Capital Partners Limited manages a number of pooled funds and segregated accounts for institutional and retail clients. At the end of August 2014, assets under management were US $2.4bn.
Sanlam International Investments advises on the global assets managed in the Sanlam group which include the client assets of Sanlam Life Insurance (SA), Sanlam Life and Pensions (UK) and 3rd party clients. Current assets under advice are approximately $7 billion. Since August 2013 it also performs the discretionary investment management function for Sanlam-UK’s fast growing Accel model portfolios propositions distributed by Sanlam Wealth and Sanlam Distribution with assets under management in excess of £500m across Sanlam Portal and other external platforms.
Sanlam UK is a wealth management business providing Wealth Planning advice to both private and corporate clients as well as supporting the wider professional adviser community through its range of investment and retirement products and solutions and the market leading risk profiling tool, Accel.
This UK business is part of Sanlam Limited, the long term AA(-) rated international financial services group which has been advising clients around the world for nearly 100 years. Valued in excess of £7 billion, employing over 15,000 individuals worldwide and managing more than £50 billion in client assets, the Sanlam Group is an organisation with a growing global presence.