Martin Gilbert’s AIM-listed company AssetCo has reached agreement to acquire an effective 63 per cent. equity interest in Rize ETF.

The cost will be £16.5 million, which will be paid in cash. AssetCo is also committing a further investment to Rize ETF of £5.25 million to help fund the growth of the business. The equity interest will be acquired from J&E Davy Holdings.

The acquisition is expected to close on 27 July 2021 and is not conditional on regulatory approvals.

Rize ETF is a specialist thematic ETF issuer which is considered a growth area within the ever-popular passive investment sector.

The business was founded in 2019 by an experienced management team, with a proven track record in establishing and scaling an ETF business and having helped build the ETF capabilities of Legal & General Investment Management.

Rize ETF employs nine people and is headquartered in London. To date, Rize ETF has launched four bespoke thematic ETFs, which provide investors access to funds investing in transformational megatrends in an accessible, transparent, low cost and purpose-built way. In addition, there are four further new fund launches planned for 2021, with the launch of Environmental Impact 100 ETF planned for late July 2021.

Rize ETF currently has over $450 million of assets under management, having launched its first ETF in February 2020. The ETFs are marketed using traditional and digital channels and distributed primarily through wholesale channels, including IFAs, private banks, wealth managers, family offices and discretionary fund managers. The ETFs are currently registered and available for sale in the UK and 12 countries throughout Europe, with plans for further geographic expansion.