Jupiter buys CCLA in £100m deal

Jupiter Fund Management has agreed to buy CCLA Investment Management, the UK’s largest asset manager for non-profits, in a £100m deal.

The agreement will see Jupiter acquire the entire issued share capital of CCLA in cash.

CCLA, which serves charities, religious organisations and local authorities, has more than £151bn in assets under management. It’s brand, investment teams and client engagement model will remain unchanged to ensure continuity for clients.

The deal is expected to complete before the end of 2025, subject to regulatory approval.

Jupiter CEO Matthew Beesley said Jupiter and CCLA share a common set of values, with a client-centric culture and a history of focusing on active and differentiated investment solutions.

"This acquisition helps us to increase scale in our home market of the UK, where Jupiter is already a leading player, without any disruption to our existing clients,” he said.

“It opens up a new client segment for us, broadening our appeal to a range of charitable and religious institutions, both in the UK and internationally, while also allowing us to expand our existing presence in the UK local authority sector.”

CCLA CEO Peter Hugh Smith added: “Through this partnership, our clients will continue to receive the same market-leading client service and relentless focus on strong, sustainable investment returns.

“At the same time, we will now benefit from Jupiter's technology and operational infrastructure, its broad range of investment capabilities and extensive global distribution footprint.”