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23 December 2020

Charles Russell Speechlys advises Dalton Capital (Holdings) Limited on its sale to Polar Capital Holdings Plc

Charles Russell Speechlys has advised Dalton Capital (Holdings) Limited, the parent company of Dalton Strategic Partnership LLP ("Dalton"), a UK based boutique asset manager with Assets under Management of £1.24bn as at 15 December 2020, on the agreement for its sale to UK based, specialist active asset management group, Polar Capital Holdings Plc.

Dalton Strategic Partnership LLP is a London based independent asset manager with a strong European equity capability and distribution reach. The acquisition has a strong strategic rationale for Polar Capital with its growth and diversification strategy. It adds a leading European investment team, which is complementary to Polar Capital's existing European Income team, with established funds, and a longstanding track record. It also provides Polar Capital with broader wholesale and institutional distribution into Europe, particularly in the German market. The acquisition includes the existing Luxembourg SICAV umbrella which will aid Polar Capital's product range for international distribution.

Nick Mottram, CEO, Dalton said: "We have long been impressed by Polar Capital's strong client focus, proposition and growth aspirations and are delighted to be joining the Group. It is a good cultural fit for us and that was important when we were looking to join a larger group, as we wanted to ensure we retained investment autonomy over our funds, something that our founding partner, Andrew Dalton, believed in fundamentally when he started the firm back in 2002. Many thanks to the team at Charles Russell Speechlys for their boundless energy and commitment in getting the deal smoothly over the line.”

Maurice Connors, CFO, Dalton said: “It was a pleasure to work with Charles Russell Speechlys on this transformative project. Their financial services sector transactional team understood both the intricacies of our particular business and the sector in which we operate, and in what was at times a very demanding process demonstrated unfailing determination and good nature throughout, no matter the stress.”

Commenting on the deal, lead partner David Hicks said: “We have worked with Dalton for a number of years and are delighted to have supported them on this project, which will put Polar Capital in excellent stead for future expansion across Europe. We were able to field a strong multi-disciplinary team of financial services sector specialists to help the Dalton team navigate through the process and a number of legal intricacies. We wish them all the very best for the future.“

The Charles Russell Speechlys team, led by financial services sector specialist Corporate Partner David Hicks, included Corporate Senior Associate Charlie Ring and Associate Svetlana Kisyova, James Carter (Tax), Jessica Arrol (FS Regulatory), Nick Hurley and Emily Chalkley (Employment), Phil Webb (Real Estate), Christina Fleming (Commercial).