Managed Accounts Holdings (MGP) has announced a completion of its merger with Linear Financial and has commenced the integration of the two businesses to be carried out under MGP’s chief executive, David Heather.
The move came after a successful raising of $34 million from institutional and sophisticated investors.
The merged entity would be providing non-unitised solutions for the independent financial advisory (IFA), stockbroking and institutional segments as well as private wealth managers and investment managers.
It would have $11.5 billion in funds under administration (FUA).
“The MGP and Linear teams, with the strong support of Sirius Capital Partners, Shaw and Partners, Evans and Partners and Veritas, have done an exceptional job to bring this merger to fruition,” Heather said.
“Our market leading capability to deliver non-utilised multi asset, multi-currency solutions across flexible legal structures and custodians enables us to meet growing complexity.
“We look forward to integrating the businesses, working with existing clients to maximise use of our capability and meeting the needs of new clients.”