Latest News 22/11/2019
Sale of Cornelian Asset Managers to Brooks Macdonald
We announced on 22 November 2019 that Brooks Macdonald has entered into an agreement to acquire Cornelian Asset Managers.
I am pleased to share the announcement that we have agreed to sell Cornelian Asset Managers to Brooks Macdonald. This is a significant milestone for our business as we become part of a larger group, but one with a similar culture and investment philosophy.
Brooks Macdonald is a successful investment management and financial planning company with over £13bn funds under management, focussed on providing high quality investment solutions to IFAs. There is a strong strategic fit between Brooks Macdonald and Cornelian, with a shared cultural commitment to clients and intermediaries, and to high-quality investment management.
While we have signed an agreement and announced it today (22/11/19), the transaction is dependent on successful completion of the c£30m equity placing Brooks Macdonald also announced this morning (22/11/19)* and regulatory approvals. We expect to complete by March 2020.
For now it is very much business as usual as we work with Brooks Macdonald to plan the best way to bring our firms together. There will be no change to the high-quality service that you expect from us and your usual day-to-day contact at Cornelian remains the same.
Please get in touch if you have any questions.
*This equity placing was successfully completed on 22 November 2019.