Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, today announces the completion of its acquisition of the business and assets of Rootstock Investment Management (“Rootstock”), an investment firm based in South Africa. The transaction was previously announced on 21 October 2022.
Effective 1 March 2023, Rootstock’s Worldwide Flexible Fund has been rebranded as the Stonehage Fleming SCI Worldwide Flexible Fund. Rootstock’s Global Equity Fund has been merged into Stonehage Fleming’s Global Best Ideas Equity Fund, which is managed in London by industry leader Gerrit Smit.
Chris Merry, Stonehage Fleming Group CEO commented: “We are pleased to announce the formal completion of our acquisition of Rootstock. Making selected acquisitions to enhance our proposition and increase our scale as a complement to organic growth is part of our strategic plan. We will continue to look for more opportunities to bring our differentiated and comprehensive offering to new clients.”
Stonehage Fleming was advised on the transaction by Stonehage Fleming Advisory and Stonehage Fleming Law.