Business
Acquisition of CCLA Investment Management Limited
Acquisition of CCLA Investment Management Limited.
About this update from Jupiter Fund Management Plc
[{"type":"text","content":"\n\n10 July 2025\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\nJupiter Fund Management plc\nAcquisition of CCLA Investment Management Limited\nThe Board of Jupiter Fund Management plc (\"Jupiter\" or the \"Group\") is delighted to announce that it has agreed to acquire CCLA Investment Management Limited (\"CCLA\" and the \"Acquisition\", respectively), subject to receipt of customary regulatory approvals.\n\n\n\n\n•\n\n\nCCLA is the UK's largest asset manager focused on serving non-profit organisations, managing more than £151 billion in assets under management (\"AUM\") on behalf of charities, religious institutions and local authorities.\n\n\n\n\n•\n\n\nThe Acquisition is highly compelling from strategic, cultural and financial perspectives, delivering progress against multiple objectives.\n\n\n\n\n•\n\n\nAs well as the highly recognised and respected CCLA brand, the investment teams and client engagement model will be preserved, to ensure their clients continue to receive the consistent, high quality client service that they expect.\n\n\n\n\n•\n\n\nThe Acquisition marks a significant step forward in delivering on Jupiter's key strategic objective of increasing scale, specifically within its home market of the UK. It also opens up a new client channel and provides complementary investment expertise with a high degree of cultural alignment.\n\n\n\n\n•\n\n\nJupiter has agreed to acquire the entire issued share capital of CCLA for consideration of £100 million, subject to customary post-closing adjustments, funded entirely from existing balance sheet cash resources.\n\n\n\n\n•\n\n\nThe Acquisition is expected to be materially accretive to management fee earnings per Jupiter share from day one, with further accretion over time as synergies are delivered. The initial target for run-rate cost synergies on a fully integrated basis is at least £16 million per annum and this target is expected to be fully realised by the end of 2027.\n\n\n\n\n•\n\n\nFollowing Jupiter's announcement on 22 May 2025 identifying further cost efficiency opportunities, the Acquisition is another step towards delivering the Group's medium-term targe...