Martin Gilbert’s asset management firm River Global Holdings (RGH) has agreed to be acquired by Liontrust Asset Management for an initial £7.6 million in Liontrust shares and an additional consideration of up to £2.1 million in Liontrust shares.

River Global said: “The terms of the sale include an initial consideration of £7.6m in Liontrust shares, followed by an additional consideration of up to £2.1m in Liontrust shares which is dependent upon the delivery of certain revenues to the enlarged Liontrust group within twelve months of completion of the sale.”

Gilbert, River Global’s chairman, will join the board of Liontrust as a non-executive director.

“RGH’s assets under management and advice (AuMA) were £2.7 billion as at 27 February 2026,” said Liontrust.

“The addition of this to Liontrust’s AuMA will take pro forma AuMA to £24.4 billion.”

Gilbert said: “River Global and Liontrust are two highly complementary businesses and it makes perfect sense to bring them together.

“River Global and its shareholders, clients and people will benefit immediately from becoming part of a wider group, with powerful distribution and marketing resources that will accelerate the inflows we are seeing into our funds as well as broader all-round growth opportunities.

“Shareholders will benefit from the significant synergies this deal brings while our talented managers will fit well within Liontrust’s wider team.”

Liontrust CEO John Ions said: “The acquisition of River Global is an important step forward for Liontrust. River Global’s investment capabilities are complementary to Liontrust’s established processes and funds and combining them will create a stronger and broader platform for future growth. The enlarged business will diversify products, performance and the client base.

“River Global fund managers will benefit from Liontrust’s brand and distribution that will provide them with a broader route to market both in the UK and internationally. Clients will benefit from Liontrust’s market-leading service and the investment we have made in recent years in our operating model to ensure the integration is as smooth and quick as possible.

“The appointment of Martin Gilbert as a Non-executive Director further strengthens the Board, and we believe that he will be able to bring Liontrust new global client relationships.”

Christopher Mills, non-executive director of River Global and its largest shareholder, said: “I have backed River Global because of its vision in building a distinct active asset manager through acquiring talented fund managers with diverse investment capabilities. A great deal of progress has been made by River Global in developing the business and I am delighted with what has been achieved despite unprecedented headwinds in the fund management industry as a whole.

“I am very supportive of the acquisition by Liontrust. I have been impressed by their senior leadership and cultural alignment, and the enlarged business will be better placed to achieve the vision. I look forward to becoming a shareholder in the enlarged Liontrust.“