Brooks Macdonald Group completed the acquisition of Cornelian Asset Managers Group for £47m.

Brooks Macdonald Group, a United Kingdom-based company, which offers a range of investment management services, completed the acquisition of Cornelian Asset Managers Group, an independent investment management company, for £47m ($61m). "From the outset of our discussions with Cornelian, we have been struck by the complementary cultures, investment processes and business models of the two firms, with both having a strong focus on clients and intermediaries. We are delighted that we have been able to agree a transaction that brings additional multiasset capability and distribution strength into the Group. The transaction creates value for our shareholders and crucially will provide benefits for both firms’ clients and the intermediaries with whom we work. The acquisition of Cornelian is a significant step forward in our medium-term strategy of delivering sustainable, value-enhancing growth," Caroline Connellan, Brooks Macdonald CEO.