7IM to buy Edinburgh-based TCAM

Subject to regulatory approval

Seven Investment Management (7IM) has agreed to buy Tcam Asset Management (TCAM), subject to regulatory approval, to create a firm with £13.6bn AUM.

The 100% share buy-out will see 7IM leverage TCAM's active management strength, alongside its own specialties in risk management, research and platform capabilities, the groups said. 7IM's Urquhart Stewart: If executed properly, regulation could be the best advert the asset management industry has ever had Commenting on the purchase, CEO of 7IM Tom Sheridan said the deal is a "great fit, both commercially and culturally", with the two businesses offering "complementary strengths which will produce an improved investment service for our customers". The TCAM brand will continue in th...