10th Jul 2025 09:29
(Alliance News) - Jupiter Fund Management PLC on Thursday said it will acquire CCLA Investment Management Ltd for GBP100 million.
The London-based investment manager called it "a significant step forward" in its UK expansion plans. CCLA, also based in London, focuses on investments in the non-profit sector, with around GBP15 billion assets under management at March 31. CCLA estimated net revenue of GBPP65.7 million in financial 2025, up from GBP60.9 million the previous year.
The acquisition will be earnings-accretive "from day one", Jupiter said. The initial target for run-rate cost synergies is a minimum of GBP16 million per annum, which the firm expects to realise by the end of 2027. Jupiter added that the deal supports its medium-term target of a 70% cost-to-income ratio.
Jupiter will use existing cash resources to fund the deal, which is expected to close before the end of 2025.
"CCLA is the leading asset manager in the UK for the non-profit sector, providing exemplary client service and high-quality investment outcomes for charities, religious organisations and local authorities," commented Jupiter Chief Executive Matthew Beesley.
"This acquisition helps us to increase scale in our home market of the UK...without any disruption to our existing clients. It opens up a new client segment for us."
Also on Thursday, Jupiter proposed to increase capital distribution, based on revenue from performance fees in 2025.
Jupiter Fund shares rose 12% to 121.40 pence on Thursday morning in London.
By Holly Munks, Alliance News reporter
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