International multi-family office Stonehage Fleming today (3 March) completed its acquisition of the business and assets of Rootstock Investment Management, an investment firm based in Stellenbosch, 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 Worldwide Flexible Fund.
Rootstock's Global Equity Fund has been amalgamated 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 said: "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."
