AssetCo to acquire entirety of Revera Asset Management

Will work alongside Saracen

AssetCo has reached an agreement with Revera Asset Management to acquire its entire issued share capital for £2.8m.

The move forms part of AssetCo's strategy to build an asset and wealth management business, with Edinburgh-based Revera becoming part of the firm's active equity platform. It will work alongside fellow Scottish asset management firm Saracen Fund Managers, which AssetCo purchased in July last year. Founded in 2003, Revera runs two funds, both of which operate on the Smith & Williamson Fund Administration Limited platform. S&W Revera UK Dynamic has £108m of assets under management, while its Skye investment trust has an AUM of £10m. The firm itself, which has four full-time employees and o...