Caisson Investment Management and iO Asset Management, the two specialist industrial and logistics investment and asset managers, are merging.
Both businesses have long-term track records in the light industrial and logistics sector with a combined circa £1 billion of assets under management in the UK and Poland.
Both manage assets on behalf of investors such as local authority pension funds, institutional investors, family offices and corporates.
The Caisson iO group will comprise 22 people.
The partners said that by joining forces, they will provide their respective clients with "greater depth, capacity and expertise across fund management, asset management, finance and accounting, investor relations and sustainability".
The merged group says it will be looking to expand its offering across the UK and Poland.
Since their respective formations in 2009 (Caisson) and 2011 (iO), the businesses have built teams of asset and investment managers and have worked together on several projects. Under the merger, iO will relocate all its staff to Caisson’s offices in the City of London with all staff being retained.
Angus Scott Brown, managing director of iO, said: “Caisson and iO have worked together for over ten years and in many ways the two teams are already aligned with the client care we already provide. James Allen [the head of asset management] and I are excited by the opportunities that the merger of these two strong brands will bring to our UK and international client base over the coming years.”
Mark Bowden, founding partner of Caisson added: “This is a natural progression for both businesses and I am equally excited, along with my two other founding partners, Michael Newman and Philip Stott, by the opportunities that the combined strength of Caisson and iO will bring to our client base in a highly specialised commercial real estate sector which continues to enjoy significant investment opportunities.”
Since its formation in 2009, Caisson has, by value, undertaken over £1.4 billion of transactions within the multilet industrial sector and delivered an ungeared return to its investors of 18.95% since inception to 30th September 2022.
iO successfully implemented a series of joint venture vehicles with blue-chip institutional investors, private equity businesses, and family office clients.