Deal gives QMA an institutional client base in the UK, continental Europe, Australia and Japan

QMA, a $128bn quantitative manager owned by Prudential Financial, the US insurer, has acquired a London-based investment boutique as part of its European expansion plans.

The takeover of $1.4bn macro specialist Wadhwani Asset Management is expected to close early next year and follows QMA's 2017 appointment of former BlackRock veteran John Gee-Grant to help oversee international operations.

US quant manager QMA buys $1.4bn London boutique

David Ricketts

Prudential Financial

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