Seneca completes Miton Deal

Seneca completes Miton Deal

Seneca Investment Managers has completed its purchase of Liverpool-based Miton Capital Partners.

The fund management firm has received approval from the Financial Conduct Authority (FCA) for the deal.

The deal was first announced in January and is worth up to £6.4m.

Miton manages two open-ended investment companies and an investment trust. The investment companies are to be rebranded in due course.

Seneca said the completion represents a “key building block” for the new management team and it aims to build it into a national player within the UK fund management sector.

Stuart Eaton, chief executive of Seneca Investment Managers, said: “With the FCA approval process and completion now behind us, we can focus our energies on building Seneca Investment Managers into a major force within UK fund management. We have ambitious plans for the firm

Last month, Better Capital founder Jon Moulton agreed to take a stake in Seneca.

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