The deal, the terms of which remain undisclosed, is subject to regulatory approval.
It will see the team of investment professionals from 2CG Senhouse bringing their European Capital Growth, European Income, and Southeast Asian Focus funds to Waverton.
Making the move are fund managers Chris Garsten and Charles Glasse, who have been investing in European equities since 1990, working together as a team at 2CG Senhouse since 2000.
They are joined by Brook Tellwright, who began working in Asia in 1993 while he was at Cazenove.
Big boutique
2CG Senhouse said it was attracted to the ‘big boutique’ nature of Waverton, with director Charles Scott Plummer saying: “Andrew Fleming, who was appointed chief executive last year, has a strong record of running and creating fund management success.
“Waverton is a ‘big boutique’; it is large enough to support institutional level systems and controls, but small enough that the investing individual is able to shine. This is a transformative deal for us.”
Fleming said the new team’s bottom-up stock picking approach and ability to identify attractive investment opportunities meshed with Waverton’s core capabilities and ambitions.
Plummer added: “Waverton has a long and distinguished reputation primarily as a private client house, but the strength of its investment culture has, over the years, produced some remarkable fund managers. The natural fit in investment style and focus on long-term performance make Waverton the obvious home for us to be able to continue, and enhance, our investment process for our clients.”
As of 31 December 2015 Waverton had £4.5bn ($6.4bn, €5.7bn) under management.
Founded in 1986 as J O Hambro Investment Management, the firm was acquired by Credit Suisse Group in 2001. In 2013 it was sold to Bermuda National, which has since rebranded as Somers.
Following its sale to Bermuda National, J O Hambro Investment Management changed its name to Waverton Investment Management.
