Lothar Mentel's Tatton Capital announced that it had acquired multi-manager firm, Prism Capital Management. UK-based Prism Capital Management currently runs GBP270 million in risk-rated funds. Tatton Capital is an asset management arm operated by Paradigm.
The deal is thought to be aimed at building Tatton Capital's adviser presence.
Prism Capital Management was established in 2009 as a joint venture between Octopus Investments, Paradigm, and a number of adviser firms. Tatton Capital, however, has swallowed the other partners in previous buyouts.
Octopus, under the deal, will remain as the investment manager for four of Prism's risk-rated funds.
"Our appointed fund managers' performance is reviewed on a monthly basis, and only if our performance expectations are not met will we consider a change," Tatton Capital chief executive Mentel said. "I will be conducting very hands-on oversight of the Octopus management of our funds, given I know the team, which I built during my time at Octopus, very well."
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