We are pleased to announce that regulatory approval has now been granted for Capital International Group Limited’s acquisition of Martello Asset Management Limited. As a result, the acquisition completed on 1st November 2024.
This strategic acquisition aims to enhance the jurisdictional footprint of the Capital International Group (the Group) of companies beyond their current locations in the Isle of Man and South Africa. The acquisition will increase the Group’s market presence and broaden its portfolio of services across Jersey and beyond.
The integration of Martello’s extensive expertise and established client base will significantly bolster the position of Capital International Group in the investment management sector. This acquisition aligns with the Group’s long-term growth strategy to expand its reach and deliver exceptional value to its clients through diversified investment solutions.
Key Benefits of the Acquisition:
- Expanded Geographic Footprint: Capital International Group currently operates from offices in the Isle of Man, Johannesburg, and Cape Town, so the acquisition provides expansion into Jersey, creating access to a new market and enabling a broader product and service offering to both companies’ international client bases.
- Enhanced Service Offerings: Combining the strengths of both companies will result in a broader range of investment products and services, offering more comprehensive solutions to clients. Martello advises on and distributes its own Martello Global Equity Fund to retail investors, via intermediaries, and in South Africa does this via its feeder fund, the BCI Martello Global Equity Feeder Fund and this will now be more easily accessible to the intermediaries and advisers who currently work with the Capital International Group.
- Strengthened Expertise: The integration of Martello’s experienced team will augment Capital International Group’s own investment team expanding the talent pool, as well as fostering innovation and expertise in investment management.
- Increased Client Base: As well as clients in Jersey, Martello’s client base extends into South Africa, Zimbabwe and other African countries which will align effectively with Capital International Group’s existing strong presence in the African continent through its 40+ staff based in Cape Town, Johannesburg and Durban and its extensive relationships with local intermediaries and adviser. The coming together of the two businesses will result in a wider client base, offering enhanced opportunities for cross-selling and deeper client relationships.
“We are thrilled to receive regulatory consent for the acquisition” said Head of Investment Management, Antony Kelsey, who has been leading the transaction. “We have been working closely with the Martello team over the last few months to ensure the completion of the acquisition was as smooth a process as possible and we are delighted to welcome a team of dedicated and highly qualified colleagues to the Group. This acquisition represents a significant milestone in our growth journey. By combining our respective service offerings, we are well-positioned to expand the distribution of the Martello Global Equity Fund, and the wider Martello proposition into Capital International Group’s extensive relationships with intermediaries and advisers.
Martello has built a strong reputation for delivering exceptional investment management services and maintaining robust, good quality client relationships. The performance track record of the Martello Global Equity Fund speaks for itself and we are looking forward to working with the Martello team to distribute it more widely through the Capital International Group. The seamless integration of both companies will ensure continuity of service and a smooth transition for all clients and employees.”
“With the transaction now complete, we are looking forward to being part of the Capital International Group team” said Gary Hill, Director of Martello. “Joining forces will enable us to leverage their extensive resources and expertise, ultimately benefiting our clients with enhanced investment options and services. We have been impressed with the Capital International team throughout the acquisition and we are confident that our team of professional employees and our clients will be well looked after in the future.”
David Long, Capital International Group’s Chief Investment Officer, said: “From start to finish, any acquisition involves a huge amount of due diligence, legal work and administration and I am very pleased with how our two companies have been able to align so seamlessly. We have been looking to establish a strategic link to Jersey for some time and Martello’s African client base is a great fit for us as we have 40+ staff across Cape Town, Johannesburg and Durban who are well placed to support and strengthen the relationships Martello have built.”
Should you have any questions about the acquisition, please do not hesitate to get in touch with us via your usual point of contact.
Disclaimer: The views, thoughts and opinions expressed within this article are those of the author, and not those of any company within the Capital International Group (CIG) and as such are neither given nor endorsed by CIG. Information in this article does not constitute investment advice or an offer or an invitation by or on behalf of any company within the Capital International Group of companies to buy or sell any product or security or to make a bank deposit. Any reference to past performance is not necessarily a guide to the future. The value of investments may go down as well as up and may be adversely affected by currency fluctuations. CIG, its clients and officers may have a position in, or engage in transactions in any of the investments mentioned. Opinions constitute views as at the date of publication and are subject to change.
