New venture Goshawk Asset Management has made its first acquisition.
Goshawk Asset Management, the global equity boutique launched by Alex Illingworth and Harwood Capital Management, has bought Vermeer Investment Management.
The firm was founded in 2023 after llingworth left Artemis, where he co-managed the Mid Wynd International Investment Trust and the Artemis Global Select Fund.
Illingworth said: “We’re all focused on buying great companies yet being diligent about valuation. The team benefits from an average of 30 years’ investment experience.
“We’re creating the capability and the relationships to manage a number of global equity mandates, and the Vermeer Global Fund benefits from already being available on many of the major retail platforms.”
Vermeer Investment Management Limited was set up in 2014 and launched the £60.8mn Vermeer Global Fund two years later.
The fund is managed by Vermeer founders Tim Gregory and James Rowsell as well as Charlie Fricker - all three of whom have now joined Goshawk.
It is expected to be renamed the Goshawk Global Fund.
Gregory said: “Alex has a strong track record in building assets under management and delivering strong investment performance. We see this move as an opportunity to build on eight years of success, to bring depth to the team and to reach a bigger audience.”
The private client investment management business of Vermeer Investment Management Limited, trading as Vermeer Partners, is not part of the acquisition and will continue to operate independently.
Goshawk has also partnered with HANetf – Europe’s first and only independent white-label UCITS ETF and ETC platform – to build an Active ETF strategy, led by Illingworth.
The Global Balanced Fund UCITS ETF (ROE LN) aims to offer lower volatility and increased downside protection.
Illingworth added: “It’s exciting to be entering the growing Active ETF market, combining active management with the convenience and cost-effectiveness of ETFs to deliver Goshawk strategies to fund and ETF investors alike.”
tara.o'connor@ft.com
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