Tatton Asset Management (TAM) announced that it has taken a 50 percent stake in 8AM Global Limited, for a consideration of £7 million.

On completion, TAM expects the deal to add around £800 million in assets under management to the group’s existing £11.3 billion.

Paul Hogarth, chief executive of TAM, said “The Group has delivered another good year of growth across both divisions and I am particularly pleased with the significant increase in net new inflows to the Group which underpins the organic growth opportunity that exists in our market. Post completion, this will be the second acquisition in less than a year for the Group, demonstrating that we are executing on our three year 'Roadmap to Growth' strategy. With a three-year target of £6.0 billion of growth in AUM, at the end of the first year we remain on target to achieve this.”

Jeremy Nunn, managing director at 8AM Global added “We are delighted with the proposed sale of 50% of the share capital of 8AM to Tatton Asset Management plc. The sale will allow 8AM to build on its success and provide us with access to the know-how and expertise of one of the market leaders in the model portfolio space.”