Avoca Capital has acquired Liontrust Asset Management’s credit team and its two hedge funds, Financial News reports. The Irish boutique fund manager has paid £3.2 million for the Liontrust Credit Absolute Return and the Liontrust Credit funds, which have a combined £85 million in assets under management, adds What Investment.Liontrust’s credit team members, led by Simon Thorp, James Sclater, Paul Owens, Quentin Peacock and Gareth Roblin, will also join Avoca. The team was recruited by Liontrust in 2009 from Ilex Asset Management.
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